Citigroup's initiation of coverage on Intl Flavors & Fragrances with a Neutral rating suggests that the stock is fairly valued at its current price. The price target of $84 indicates that the analyst believes there is limited upside potential in the short term. This news is important for investors as it provides an expert opinion on the stock's valuation, but the neutral rating suggests that the stock price is likely to remain stable in the short term.