Baader raises Symrise to 'buy' on favourable risk-return profile

Givaudan SA

11/08/2025 08:47

** Baader Helvea raises Symrise SY1G.DE to "buy" from "add", citing the German flagrance and flavour maker's favourable risk-return profile as the stock's valuation ignores many positives

** The broker notes that despite Symrise growing faster than competitors, its margin recovery lagged that of Swiss rival Givaudan GIVN.S in 2024

** However, it says current share price levels disregard industry-leading margins in the company's food and beverage business (23.3% in H1), cost savings and portfolio optimisation from its "ONE SYM" strategy and growth in the scent and care unit

** If H2 growth trajectory is met, Symrise would trade at a 30-40% discount to historical multiples, the broker says, deeming this unjustified

** Out of 24 analysts that cover the stock, 15 rate it "strong buy" or "buy",​ seven "hold" and two "strong sell" or "sell" - LSEG data

(Reporting by Emanuele Berro)

((Emanuele.berro@thomsonreuters.com))