IFF price target raised to $123 from $105 at Wells Fargo

Wells Fargo analyst Michael Sison raised the firm’s price target on IFF to $123 from $105 and keeps an Overweight rating on the shares following the company’s Investor Day event. The analyst believes IFF has a distinct market opportunity, given the overarching consumer mega trends highlighted in its presentation, to expand its business in high-ROIC areas of its portfolio.