IFF price target lowered to $116 from $145 at Mizuho

Mizuho analyst Christopher Parkinson lowered the firm’s price target on IFF to $116 from $145 and keeps a Neutral rating on the shares post the Q3 results. The company’s preliminary commentary regarding the 2023 outlook is "spooking" investors ahead of the analyst day, "though we sense cost commentary is conservative," Parkinson tells investors in a research note. IFF’s analyst day is poised to be a material catalyst, but the shares will likely be muted in the interim, says the analyst.