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Goldman Sachs Downgrades Syngenta (SYT) to Buy

February 5, 2014 9:27 AM EST Send to a Friend
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Price: $71.44 -1.65%

Rating Summary:
    6 Buy, 9 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 17 | Down: 38 | New: 6
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Goldman Sachs downgraded Syngenta (NYSE: SYT) from Conviction Buy to Buy.

Analyst Rakesh Patel said, "We maintain our Buy rating but remove Syngenta from the Conviction List and the shares are removed from the Directors of Research Focus List. We were disappointed that despite the strength of Syngenta’s balance sheet (<1x net debt/EBITDA) and FCF generation in 2014E (guidance US$1.5 bn), the company did not announce any further capital return to shareholders through a special dividend/share buyback beyond the ordinary dividend (+5% yoy). Since being added to the Conviction List on July 2, 2013, the shares are -15% versus the FTSE World Europe, up 6%, which we believe reflects disappointment over cash returns."

For an analyst ratings summary and ratings history on Syngenta click here. For more ratings news on Syngenta click here.

Shares of Syngenta closed at $70.00 yesterday.




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Analyst Comments, Analyst EPS View, Downgrades

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Goldman Sachs Conviction Buy List, Goldman Sachs, Dividend, Stock Buyback

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