Analyst Downgrades IFF: Cites Concerns Over Volume Trends And Management Credibility
Portfolio Pulse from Nabaparna Bhattacharya
Stifel analyst Mark S. Astrachan has downgraded International Flavors & Fragrances, Inc. (IFF) from Buy to Hold, lowering the price target to $85 from $123. The downgrade reflects concerns over improving volume trends, the company's competitive position, and management credibility. IFF reported disappointing 2Q23 results and reduced its 2023 sales and adjusted EBITDA guidance. The company's shares are trading lower by 19.57% to $64.62.
August 08, 2023 | 6:53 pm
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IFF has been downgraded from Buy to Hold by Stifel analyst Mark S. Astrachan, who also lowered the price target to $85 from $123. The company's shares are trading lower by 19.57% to $64.62.
The downgrade by Stifel analyst Mark S. Astrachan reflects concerns over IFF's volume trends, competitive position, and management credibility. This negative sentiment is likely to impact the company's stock price in the short term, as reflected in the 19.57% drop in share price.
CONFIDENCE 100
IMPORTANCE 100
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