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SYT.N

ISIN: US87160A1007
SEDOL: 2674986

Rating:

HOLD

Target Price:

45.42 USD

Investment Horizon:

6 to 12 months
24th Jul 2009 View Report   Download

1H 09 News Alert

Syngenta AG (Syngenta) announced its 1H 09 results on 24 July 2009, reporting weak performance during the quarter. 2Q 09 revenues and earnings fell short of our estimates as the US dollar appreciated beyond our expectation. Despite weak interim results, the company's strong product pipeline and global presence provides support to drive future earnings. Hence, we believe the ADR (1ADR=5 shares) is fairly priced at current levels and maintain our HOLD rating....

13th May 2009 View Report   Download

Company News Alert

On 12 May 2009, Syngenta AG's (Syngenta) ADR achieved our target price. Given that our fundamental outlook remains unchanged, we believe the potential upside in the ADR has been exhausted at current price levels. Hence, we downgrade the ADR from a BUY to a HOLD. We will reassess our target price and rating in our next update report, once the company announces its 1H 09 results. We now anticipate a negative currency impact on the Swiss stock over our 6-24 month investment horizon....

15th Apr 2009 View Report   Download

Company News Alert

Syngenta announced its 1Q 09 trading results on 15 April 2009. The company’s revenues declined 4% y-o-y as higher sales were impacted by a stronger US dollar. The company reports its fiscal performance in US dollars while it realizes a significant proportion of its revenues in other currencies. The company’s 1Q 09 top-line increased 7% y-o-y on a Constant Exchange Rate (CER) currency basis....

23rd Mar 2009 View Report   Download

FY 2008 Update Report

We expect the company’s growth momentum to slowdown in FY 2009, as falling crop prices diminish returns on investments in agriculture. Strengthening of the US dollar against major currencies is set to neutralize any moderate increase in sales volume and price realizations in FY 2009. However, going forward, the company’s strong product line provides visibility for long term growth. Thus we expect moderate upside in stock prices at current level....

6th Feb 2009 View Report   Download

FY 2008 News Alert

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Syngenta AG (Syngenta) announced its FY 2008 results on 06 February 2009. Revenues and earnings were in line with our expectations. However, we expect a moderate downward revision in our earnings estimates and target price, associated with the deteriorating global macroeconomic conditions. However, we believe the ADR offers potential upside given the current price levels and, hence, reiterate…