Symrise resumed with a Sell at Goldman Sachs

Goldman Sachs resumed coverage of Symrise (SYIEY) with a Sell rating and EUR 100 price target as part of a broader research note on European Chemicals. The regard in which Symrise was previously held among Flavors and Fragrances stocks has been impacted by aroma molecules-linked profit warnings, and larger than expected margin headwinds through 2022-23, the analyst tells investors in a research note. The firm adds however that Symrise screens well in its supply side analysis, even though some strategic steps may be necessary to regain pricing power relative to its closes peer Givaudan (GVDNY).