HAMBURG (dpa-AFX Broker) - Private bank Berenberg upgraded Symrise from "hold" to "buy" and raised its price target from 115 to 124 euros. Analyst Fulvio Cazzol stressed in an industry report published on Thursday that the flavors and fragrances manufacturer has the best track record in its niche in terms of organic growth. While Symrise is unlikely to be completely protected from destocking in 2023, demand is likely to remain high. He believes the stock's lower valuation is an overreaction./tih/ajx

Original study release date: 01/18/2023 / 18:13 GMT.

First disclosure of original study: Date not specified in study / Time not specified in study / Time zone not specified in study