Fragrance Maker IFF Positioned For Growth With Revitalized R&D And Attractive Valuation: Analyst
BofA Securities analyst Salvator Tiano upgraded International Flavors & Fragrances, Inc. (NYSE:IFF) to Buy from Neutral, lowering the price forecast to $107 from $109.
Per the analyst, International Flavors has exceeded earnings expectations in all three quarters this year under its new CEO, while working to revitalize its R&D organization and product pipeline.
The company reported third quarter net sales of $2.93 billion, up 4% year-over-year, driven by strong performance in Health & Biosciences, Scent, Nourish, and Pharma Solutions. Volume grew high-single digits and improved across all businesses.
The analyst projects end-market demand to improve in 2025-26, following a period of pressure. Innovation is also regaining …
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