Business
Symrise reaches highest level since May - Morgan Stanley expresses optimism
On Wednesday, Symrise shares led the DAX and reached a high not seen since the end of May.
Wednesday was a good day for Symrise shareholders, as the company's shares rose to the top of the DAX. With an increase of 2.71 percent to 102.05 euros, they even exceeded their high since the end of May. The stock also surpassed the important 200-day moving average, which is a good sign for investors. Symrise is performing well compared to its Swiss competitor Givaudan. According to a study by US bank Morgan Stanley, Symrise stocks are particularly promising in the industry. Analyst Lisa De Neve even referred to them as her favorites. The outlook for volume growth and margin recovery is better for Symrise than for Givaudan. De Neve maintained a target price of 109 euros for Symrise, confirming the "Overweight" rating.
Another reason for the upswing of Symrise shares is the purchase of shares of the Swedish company Swedencare. Symrise had previously announced that they had made a takeover offer for Swedencare. According to traders, Symrise's purchase of additional Swedencare shares proves their determination. The prices for the stocks reached up to 58.50 Swedish Krona per share, which corresponds to a premium of over 7 percent on the closing price on Monday. Symrise now holds approximately 35 percent of Swedencare's shares.
Symrise's quarterly figures also contribute to the positive increase in share prices. The manufacturer of fragrance and flavoring substances is recording strong numbers and benefiting from a good business development. Accordingly, the company is optimistic about the future. The expectations for volume growth and improved margins are promising.
Symrise proves to be an attractive investment for investors, especially compared to competitor Givaudan. The company's positive developments and future forecasts give hope for a promising future for its stocks. By purchasing additional Swedencare stocks, Symrise demonstrates its determination and strengthens the trust of shareholders. Wednesday's rise in the stock price underlines this positive development and gives investors hope for further successes in the future.
