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Aug 26 2020, 07:45 IST/BST
Ratings and price correct at time of issue
Company | Rating | Date | Previous Rating | Date | Closing Price |
---|---|---|---|---|---|
Givaudan | OUTPERFORM | 24/03/20 | Neutral | 21/06/12 | 378800chf |
Symrise | OUTPERFORM | 24/03/20 | Neutral | 15/01/19 | 11530c |
Reinvestment is the key theme of Chr. Hansen’s new medium-term strategy – focused on its core microbial and probiotics platform, claimed to be the most prominent in the world. While the top-line growth target of mid to high-single-digits is as expected, margin expectations reflect reinvestment ambitions. Management has placed a heavy emphasis on opportunities in plant-based and the growing probiotics market in Asia, reinforced by recent acquisitions. Immunity-related products and nutrition platforms have been clear beneficiaries of the crisis – trading on 45x FY2 EPS, the market is betting on the growth sustainability of such.
Aug 26 2020, 07:45 IST/BST