Ingredion price target lowered to $126 from $130 at Oppenheimer

Oppenheimer analyst Kristen Owen lowered the firm’s price target on Ingredion (INGR) to $126 from $130 and keeps an Outperform rating on the shares. The firm adjusted targets in the agriculture space as part of a Q1 preview. The analyst expects “healthy” Q1 results across its coverage, citing stabilization trends before the outbreak of the Iran conflict. “Sentiment in the industry remains resilient, with all eyes on the potential for fundamentals to diverge as the effects of higher-for-longer energy and fertilizer prices ripple through our coverage,” the analyst tells investors in a research note. Oppenheimer has a cautious stance on Ingredion in the near-term.