FY 17 was a mixed bag for Novozymes, with F&B and Bioenergy thriving but the high potential Agriculture & Feed segment being held back by low crop prices in the US. With most end markets expected to remain challenging in the near term, the outlook for the company remains soft. Increased investments in R&D, manufacturing and emerging markets are likely to keep margin progression in check. We remain cautious and maintain our Sell recommendation on the stock.
13 Mar 2018
Challenging market environment continues
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Challenging market environment continues
Novonesis A/S (Novozymes A/S) Class B (NZYM:WBO) | 0 0 2.6% | Mkt Cap: 80,754m
- Published:
13 Mar 2018 -
Author:
Jyoti Prakash -
Pages:
5
FY 17 was a mixed bag for Novozymes, with F&B and Bioenergy thriving but the high potential Agriculture & Feed segment being held back by low crop prices in the US. With most end markets expected to remain challenging in the near term, the outlook for the company remains soft. Increased investments in R&D, manufacturing and emerging markets are likely to keep margin progression in check. We remain cautious and maintain our Sell recommendation on the stock.