Givaudan's full-year results for 2024 are due to be published on January 25, 2025. Ahead of this publication, Jefferies confirms its 'underperform' rating, with a target of 3,400 Swiss francs.

We are leaving our fourth-quarter organic growth guidance essentially unchanged at around 10.9% (+283 bp vs. 8.1%), while maintaining our price target of CHF 3,400," says the analyst firm.

Givaudan and the sector as a whole continue to generate impressive organic growth. Our preference remains Novonesis/DSM-Firmenich, with greater upside potential for fiscal 2025' adds Jefferies.

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