IFF cut to Hold at Argus on higher costs, volume slowdown

As previously reported, Argus analyst John Eade downgraded IFF to Hold from Buy. The firm remains positive on the company’s innovative products and expects synergies and cross-selling opportunities from recent acquisitions, but also sees its growth trajectory being negatively impacted by higher costs for raw materials and transportation, supply-chain disruptions, volume slowdowns and geopolitical developments, the analyst tells investors in a research note. Argus adds it would move the stock back to Buy if earnings growth jumps from low single-digits to high single-digits.