JPMorgan upgraded Givaudan (GVDNY) to Overweight from Neutral with an unchanged price target of CHF 3,600. The firm believes the stock’s de-rating and the company’s sales growth “may have troughed.” JPMorgan sees Givaudan’s sales growth accelerating in the coming quarters due to easing compares and pricing acceleration.
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Read More on GVDNY:
- Givaudan: Solid Q1 Beat but Cost Pressures and Regional Softness Justify Hold Rating
- Givaudan downgraded to Hold from Buy at Berenberg
- Givaudan downgraded to Equal Weight from Overweight at Barclays
- Givaudan downgraded to Hold from Buy at Deutsche Bank
- Givaudan price target lowered to CHF 2,875 from CHF 3,000 at Morgan Stanley