Jefferies upgraded IFF to Buy from Hold with a price target of $112, up from $73. The CEO change “finally positions” IFF for several years of sustainable structural improvement, the analyst tells investors in a research note. The firm says the company’s Q4 pre-release suggests operations are on track and that the prospect of a fresh strategic vision should help narrow the stock’s “wide valuation discount with peers.” It recommends buying IFF on dips.
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