Bernstein keeps Underperform on Givaudan stock at CHF 2,886 target

Published on 10/08/2026 at 11:14 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Fiscal 2025 sales rose 5.10 percent on a like-for-like basis. Givaudan stock costs EUR 3,639.50 on October 8, 2026 after EUR 3,664.00.

Architectural photography of a modern research and development building. A sweeping glass-curtain-wall wing reflects an overcast sky. A curved stone pathway winds through a landscaped garden with flowering lavender, rosemary, and aromatic shrubs. White co — Givaudan CH0010645932 modernes Forschungs- und Entwicklungszentrum mit geschwungener Glasfassade und aromatischem Duftpflanzen-Garten, Illustration mit AI erstellt.

Givaudan (ISIN CH0010645932) was trading at EUR 3,639.50 at Lang & Schwarz on October 8, 2026 at 11:08 a.m. CEST, minus 0.67 percent versus the Tradegate close of EUR 3,664.00 on October 7, 2026. Bernstein Research kept its Underperform rating and CHF 2,886.00 price target for Givaudan on October 8, 2026, according to finanzen.ch.

Bernstein sees downside risk

The target of CHF 2,886.00 stands below the latest SIX quote of CHF 3,401.00, which Bernstein Research described as an Underperform view in its October 8 study. The analyst note said food-additive manufacturers benefit from innovation and customer-market fragmentation, while sector growth can exceed the growth of end markets.

The rating contrasts with Barclays, which had raised Givaudan from Equal Weight to Overweight on October 5, 2026 and lifted its target from CHF 3,450.00 to CHF 3,850.00, according to finanzen.ch. That split gives investors a clear reference point: the CHF 2,886.00 bearish target is 15.14 percent below the SIX quote of CHF 3,401.00, while the CHF 3,850.00 Barclays target is 13.20 percent above it.

Fiscal 2025 sets the base

Givaudan reported CHF 7.472 billion in fiscal 2025 sales, up 5.10 percent on a like-for-like basis and 0.80 percent in Swiss francs versus fiscal 2024, according to the company's investor page. The same page reported EBITDA of CHF 1.751 billion, a 23.40 percent EBITDA margin and net income of CHF 1.071 billion, linking the rating debate to a profitable operating base.

Fragrance and Beauty grew 7.90 percent like for like in fiscal 2025, ahead of Taste and Wellbeing at 2.40 percent. The contrast matters because Bernstein's note specifically discussed the food-additive market, while Givaudan's faster division was Fragrance and Beauty.

Stock trades below the yearly high

Givaudan was last at CHF 3,401.00 on SIX at 10:58 a.m. CEST on October 8, 2026. The finance quote showed a 52-week range of CHF 2,566.00 to CHF 3,592.00 and market capitalization of CHF 31.4 billion as of October 8, 2026.

At Lang & Schwarz, the intraday euro quote was EUR 3,639.50 on October 8, 2026 at 11:08 a.m. CEST, minus 0.67 percent versus the Tradegate close of EUR 3,664.00 on October 7, 2026. The further course of trading is shown by the continuously updated real-time quote of Givaudan stock.