MUNICH (dpa-AFX Broker) - Baader Bank cut its price target for Symrise to 112 euros from 120 euros, but kept its rating at "add." The lower-than-expected profitability in 2022 is a cold shower for investors, analyst Andreas von Arx wrote in a research note published Tuesday. Reasons could be weaker consumer demand, rising manufacturing costs or falling inventories. The expert is now waiting for more details on the occasion of the presentation of full figures in March. He lowered his estimates for operating profit (Ebitda) from 2022 to 2024 by two to three percent per year. Notwithstanding the recent profit warning, however, he reiterated his long-term positive stance for the fragrance and flavor manufacturer's stock./ajx/edh

Publication of the original study: 24.01.2023 / 09:13 / CET

First disclosure of original study: date not stated in study / time not stated in study / time zone not stated in study

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