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Stifel analyst Mark S. Astrachan upgraded International Flavors & Fragrances Inc. (NYSE:IFF) stock to Buy from Hold with an increased price target of $115 from $95.
The analyst sees 2024 guidance as conservative and is increasing the sales and adjusted EBITDA forecasts for 2024-2025 by 1.5% and 4.4% above the company’s top-end targets.
IFF’s volumes rebounded strongly in the first-quarter 2024, rising mid-single-digits after five quarters of decline, writes the analyst.
Also Read: IFF’s Focus On Health And Environment Set To Drive Stock Momentum, Says Analyst
Astrachan expects mid-single-digit volume growth throughout 2024, driven by improved comparisons and a …
Full story available on Benzinga.com
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