IFF price target raised to $85 from $80 at Baird

Baird raised the firm’s price target on IFF to $85 from $80 and keeps an Outperform rating on the shares. The firm said it believes a combination of sequential improvement in end-market volumes, portfolio/operating simplification as highlighted by the new CEO, and a dividend cut, will finally start the balance sheet deleveraging process versus the previous reliance on asset sales.