Barclays lowered the firm’s price target on IFF (IFF) to $90 from $99 and keeps an Equal Weight rating on the shares. IFF followed a similar pattern to its peers with stronger Q3 results and “cautious optimism around customer order patterns into year-end, and in response, IFF stock sold off as the market looks out to growth normalizing in 2025, also similar to peers, the analyst tells investors. While implied Q4 adjusted EBITDA is below consensus estimates, the firm views this as the company being “appropriately conservative” and views the market’s reaction to IFF results today as “overdone,” the analyst added.
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Read More on IFF:
- IFF price target raised to $111 from $108 at UBS
- IFF reports Q3 adjusted EPS $1.04 ex-amortization, consensus $1.08
- IFF raises FY24 revenue view to $11.3B-$11.4B from $11.1b-$11.3B
- Is IFF a Buy, Before Earnings?
- IFF price target raised to $121 from $115 at Stifel
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
