BofA lowered the firm’s price target on IFF to $81 from $82 and keeps a Neutral rating on the shares. The firm said that earnings and volumes seem to be troughing for the company following several quarters of destocking and price/cost pressures. BofA noted, however, that 2024-2025 recovery is relatively muted, and primarily driven by some cost deflation, somewhat higher volumes, and the non-repeat of several 2023 headwinds.
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