Barclays analyst Lauren Lieberman lowered the firm’s price target on IFF to $57 from $60 and keeps an Underweight rating on the shares. While volumes have been the prevailing narrative in staples for several months now, the risk of GLP-1s as a secular headwind and the cyclical drag of higher rates “have taken center stage in the past week,” the analyst tells investors in a research note. The firm changed the price target in a preview of the sector’s Q3 earnings reports.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on IFF:
- IFF secures regulatory approval for 2′-fucosyllactose HMO in China
- Early notable gainers among liquid option names on September 20th
- IFF backs FY23 revenue view $11.3B-$11.6B, consensus $11.41B
- Nvidia upgraded, Estee Lauder downgraded: Wall Street’s top analyst calls
- IFF downgraded to Equal Weight from Overweight at Morgan Stanley