Givaudan stock slips after Jefferies cuts rating

Published on 09/02/2026 at 10:05 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Givaudan stock eases as Jefferies lowers its view and Givaudan remains on JPMorgan's short-term list for European staples. The Swiss group trades at CHF 3,231.00 in Zurich on September 2, 2026.

An isometric 3D illustration of a flavour and fragrance laboratory shown as a detailed cutaway view. Copper distillation columns and glass condensers fill one area. Benches hold test tubes and scent evaluation strips. Scientists in white lab coats work at — Givaudan CH0010645932 isometrisches Aromen-Labor mit kupfernen Destillationsanlagen, Probierstreifen und geordneten übersichtlichen Lagerbereichen, Illustration mit AI erstellt.

Givaudan stock (CH0010645932) traded at CHF 3,231.00 on September 2, 2026, after Jefferies cut the shares to Hold from Buy and JPMorgan kept Givaudan among its preferred short-term ideas in European staples. The move leaves the Swiss group 11.17 percent below its 52-week high of CHF 3,592.00 and 20.58 percent above its 52-week low of CHF 2,566.00.

Jefferies turns cautious

According to the Jefferies update via finanzen.at, the price target was cut to CHF 3,030.00 from CHF 3,700.00 on September 1, 2026, alongside the downgrade to Hold. That implies a reduction of CHF 670.00, or 18.1 percent, and it frames the current Zurich quote as still above the new target.

In a broader sector note, JPMorgan said Givaudan is one of its top short-term picks in food and ingredients and expects further like-for-like acceleration in the second half of the year. The same note said European staples trade at 18 times forward earnings and about 1 percent to 2 percent below JPMorgan consensus on 2027 estimates.

Margins stayed under pressure

The latest reported figures that surfaced in the market note point to a quarter ended June 30, with revenue of CHF 3.8 billion and net profit of CHF 475 million, compared with CHF 1.93 billion revenue and CHF 296 million net profit a year earlier. The comparison is material: revenue was almost doubled year on year, and net profit rose by CHF 179 million.

For investors, the margin discussion matters more than the revenue line. The market reaction shows that even after a stronger June quarter, the stock can still lose ground when brokers reset expectations on valuation and premium-brand pricing power.

Go deeper

How the latest broker calls shape Givaudan

The Swiss ingredients group is now caught between a lower Jefferies target and JPMorgan's positive stance on the same name.

A Swiss staples name

Givaudan's position in flavors and fragrances keeps it tied to consumer staples demand and pricing power rather than big cyclical swings. That is why analyst language around like-for-like growth, margin delivery and premium valuation can move the stock even when the underlying business remains broad and stable.

Zurich quote holds

The stock was quoted at CHF 3,231.00 in SIX trading on September 2, 2026, with 448 shares changing hands in the morning snapshot. The company also sat on the loss side of the SMI, which stood at 14,322 points at that time.