Mizuho raised the firm’s price target on IFF to $91 from $83 and keeps a Neutral rating on the shares. The company’s Pharma business has reportedly been for sale under the prior CEO since last fall, and is the first major portfolio move by the new CEO, the analyst tells investors in a research note. However, the firm’s primary hesitation on IFF is that almost all major food customers are not seeing positive volumes.
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Read More on IFF:
- International Flavors & Fragrances Divests Pharma Solutions Business
- 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
- IFF initiated with an Underperform at Wolfe Research