Deutsche Bank raised the firm’s price target on IFF to $100 from $90 and keeps a Buy rating on the shares. With the sale of Pharma Solutions, IFF has taken a major step in reducing its leverage below 3-times, thereby removing the leverage overhang on the shares that has existed since the merger of IFF and DuPont’s Nutrition & Biosciences business in February 2021, the analyst tells investors in a research note. The firm continues to see “substantial upside” in the shares.
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Read More on IFF:
- International Flavors & Fragrances Divests Pharma Solutions Business
- IFF to sell Pharma Solutions business to Roquette for $2.85B
- IFF cut to Hold at Argus on higher costs, volume slowdown
- IFF downgraded to Hold from Buy at Argus
- Wolfe starts IFF at Underperform, says valuation in line with higher-end product
