IFF: broad guidance range reflects market uncertainties

  • Sectors : Foods
  • Companies : Givaudan | Symrise | DSM | Kerry Group


Ratings and price correct at time of issue

Company Rating Date Previous Rating Date Closing Price
DSM 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


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.

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Feb 13 2020, 17:35 GMT