Givaudan: Stifel on hold, but raises TP

(CercleFinance.com) - Stifel maintains its 'hold' recommendation on Givaudan shares, while raising its target price from 4200 CHF to 4400 CHF, now expecting organic growth of 12.
3% for Q3 2024 (+11.7% for full year).

We believe that solid earnings momentum is priced in, and that low interest rates have supported multiple expansions, the broker says about the Swiss flavors and fragrances group.

While it sees limited upside potential from here on, Stifel expects Givaudan to maintain its valuation premium over its peers, given superior operating performance.


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