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Feb 13 2020, 17:35 GMT
Foods
IFF: broad guidance range reflects market uncertainties
- Sectors : Foods
- Companies : Givaudan | Kerry Group | Symrise | DSM-Firmenich
Ratings
Ratings and price correct at time of issue
| Company | Rating | Date | Previous Rating | Date | Closing Price |
|---|---|---|---|---|---|
| DSM-Firmenich | NEUTRAL | 13/02/20 | Outperform | 11/02/15 | 11635c |
| Givaudan | NEUTRAL | 21/06/12 | N/A | N/A | 329800chf |
| Kerry Group | OUTPERFORM | 30/06/09 | N/A | N/A | 11510c |
| Symrise | NEUTRAL | 15/01/19 | Outperform | 21/06/12 | 9790c |
DAVY VIEW
Management’s broad guidance range for 2020 is emblematic of the current revenue environment – marked by volatility and complexity. The market is still trying to get comfort on the Frutarom transaction and trading across core segments at a point when IFF is trying to sell the merits of the proposed DuPont merger. Legacy concerns dominate the narrative.
