Ingevity price target lowered to $32 from $45 at Wells Fargo

Wells Fargo lowered the firm’s price target on Ingevity (NGVT) to $32 from $45 and keeps an Equal Weight rating on the shares. Given increased risks in a post tariff world, the firm recommends a more defensive position within the chemicals sector into Q1 2025 results as Wells expects cautious outlook commentary.