IFF price target lowered to $84 from $92 at BofA

BofA analyst Salvator Tiano lowered the firm’s price target on IFF (IFF) to $84 from $92 and keeps a Buy rating on the shares. The firm expected soft consumer demand to keep top-line growth muted, but it “appears the weakness is now becoming more pronounced,” the analyst tells investors. Given management expectations and broader reports of consumer spending slowing down, the firm lowered its organic growth forecast to 1.4% for both FY25 and FY26, but continues to view IFF as well-positioned to expand revenue and earnings in the next few years as it ramps up spending.