Robertet: Stifel initiates coverage as a buyer
(CercleFinance.com) - Stifel initiates coverage of Robertet shares with a "buy" rating and a target price of E1,000, implying 24% upside potential for the French flavour and fragrance group's stock.
"The company, the world's seventh-largest producer, operates in a fundamentally buoyant, low-cyclical market and benefits from the pricing power of a highly concentrated industry", the broker says.
"Within the Flavours & Fragrances industry, Robertet benefits above all from its unique positioning and leadership in natural raw materials and luxury fragrances, which attract the envy of all its major competitors", it adds.
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