IFF price target lowered to $98 from $100 at Morgan Stanley

Morgan Stanley analyst Lisa De Neve lowered the firm’s price target on IFF (IFF) to $98 from $100 and keeps an Overweight rating on the shares. IFF offers a diversified customer and regional footprint, innovation launches and tailwinds from a meaningful regulatory wave driving reformulation, driving about three times the rate of U.S. Consumer Staples growth over FY25-26, the analyst tells investors. The firm has adjusted its model for the completed Pharma Divestment and lower projected net interest costs, leaving its FY25, FY26 and FY27 adjusted EPS forecasts 1.8%, 4.8% and 6.1% lower, respectively.