IFF price target lowered to $84 from $99 at Citi

Citi lowered the firm’s price target on IFF (IFF) to $84 from $99 and keeps a Buy rating on the shares. The firm cut estimates for paints and coatings and select specialty chemicals ahead of the Q1 reporting season. On tariffs, most of the group is in relatively better position than commodities and intermediates, as most companies produce “in region for region” while the raw material supply remains ample, the analyst tells investors in a research note. Citi says the primary risk remains further end market demand contraction and potential recessionary conditions.