IFF price target lowered to $77 from $81 at Stifel

Stifel lowered the firm’s price target on IFF to $77 from $81 and keeps a Hold rating on the shares. The firm, which updated its estimates and provided thoughts on Household & Personal Products stocks into Q3 earnings, thinks volume declines have bottomed for many companies, but are likely to remain negative for at least one or two more quarters, reflecting pricing and heightened global macroeconomic uncertainty that is impacting consumer spending.