IFF price target lowered to $105 from $115 at Wells Fargo

Wells Fargo lowered the firm’s price target on IFF (IFF) to $105 from $115 and keeps an Equal Weight rating on the shares. While the firm is reducing its 2025 outlook primarily due to a 6% FX headwind to EBITDA and weaker demand, Wells remains bullish given positive volume growth and an improved balance sheet post divestitures.