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JPM puts Symrise on positive catalyst watch ahead of Q2



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** J.P.Morgan places Symrise SY1G.DE on positive catalyst watch into the German flavour and fragrance maker's Q2 results, expecting revenue growth at its Scent & Care divisionand good momentum behind margin rebuild

** Symrise's stock is up 1.4% in early Frankfurt trade

** JPM notes Symrise and peerGivaudan GIVN.S should see sharpest volumes rebound in Q2, moderating into H2; hikes its2024 like-for-like growth estimatefor Symrise by 9.5% and EPS by 3%

** It also sees good momentum behind margin rebuild helped by among others volume leverage, improving input costs and efficiency savings

** The brokerage anticipates early reassurance on adjusted EBITDA margin recovery in H1, which should underpin 2024 outlook

** Symrise will release H1 results on August 1



Reporting by Amir Orusov

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