DSM-Firmenich stock faces two analyst downgrades after H1 growth

Published on 09/28/2026 at 14:57 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

DSM-Firmenich stock faces two September rating cuts after Q2 like-for-like sales growth reached 6.00 percent. H1 adjusted EPS rose 14.00 percent year over year.

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DSM-Firmenich stock faces two analyst downgrades after the company delivered 6.00 percent like-for-like Q2 sales growth and a 19.50 percent EBITDA margin in the quarter. The latest SIX close was CHF 92.30 on September 25, 2026, up 4.18 percent over one week from CHF 88.60.

Analysts turn more cautious

Fintel reported that Equita SIM cut DSM-Firmenich from Buy to Hold on September 18, 2026. The same report said Rothschild & Co Redburn moved from Buy to Neutral on September 23, 2026.

The analyst shift contrasts with the stock's recent performance. The CHF 92.30 close on September 25, 2026, represented a 7.14 percent one-month gain from CHF 86.15 on August 25, 2026, while the September 2026 consensus target mean stood at CHF 91.52.

Margins improve in Q2

In the Q2 FY2026 earnings call dated July 30, 2026, Yahoo Finance reported management's figures for the first half. Q2 EBITDA grew 10.00 percent, while H1 like-for-like sales increased 5.00 percent and the H1 EBITDA margin reached 19.30 percent.

The earnings call also carried a 14.00 percent year-over-year increase in adjusted earnings per share. Management reaffirmed its 2026 outlook, including an EBITDA margin of 20.00 percent and operating free cash flow conversion of 11.00 percent to 12.00 percent.

Stock remains above consensus

The latest CHF 92.30 SIX close stood CHF 0.78 above the September consensus target mean of CHF 91.52, while the median target was CHF 92.63. The mean target had risen 3.50 percent from CHF 88.43 on August 28, 2026, creating a clear gap between improving operating figures and more cautious individual ratings.

DSM-Firmenich is also part of the SMIM index from September 21, 2026, according to the Q2 FY2026 earnings call. For investors, the key balance is the company's 19.50 percent quarterly EBITDA margin against the 20.00 percent full-year objective.