Givaudan: shares rise for second day after investor meeting.
(CercleFinance.com) - Shares in Givaudan are up on Thursday, rising for the second day in a row, boosted by the group's half-year investor conference that was held in Zurich yesterday.
Analysts at Britain's Liberum said the meeting was "reasuring," indicating improved trading for the Swiss fragrance and flavour maker.
"Yesterday's half-year investor conference in Zurich was encouraging in three respects," the brokerage firm said.
"Firstly, there was some encouraging news on recent China Flavors trading which was a first-half weak spot," it writes in a report.
"Secondly, the company did a good job of explaining the recently announced Givaudan Business Solutions plan which targets 60 million Swiss francs annual EBITDA benefits by 2020," it adds.
"Thirdly, there were some indications that the bolt-on acquitions made in recent years are starting to fulfil their promise," Liberum points out.
The broker maintains a "buy" rating on the stock, with a target price of 2,300 Swiss francs.
The stock is currently up 0.4 percent at 1,971 Swiss francs after rising 0.8 percent yesterday.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
Analysts at Britain's Liberum said the meeting was "reasuring," indicating improved trading for the Swiss fragrance and flavour maker.
"Yesterday's half-year investor conference in Zurich was encouraging in three respects," the brokerage firm said.
"Firstly, there was some encouraging news on recent China Flavors trading which was a first-half weak spot," it writes in a report.
"Secondly, the company did a good job of explaining the recently announced Givaudan Business Solutions plan which targets 60 million Swiss francs annual EBITDA benefits by 2020," it adds.
"Thirdly, there were some indications that the bolt-on acquitions made in recent years are starting to fulfil their promise," Liberum points out.
The broker maintains a "buy" rating on the stock, with a target price of 2,300 Swiss francs.
The stock is currently up 0.4 percent at 1,971 Swiss francs after rising 0.8 percent yesterday.
Copyright (c) 2017 CercleFinance.com. All rights reserved.