Ingredion price target raised to $178 from $147 at Oppenheimer

Oppenheimer raised the firm’s price target on Ingredion (INGR) to $178 from $147 and keeps an Outperform rating on the shares. The firm notes the company delivered a strong Q3 and raised its FY24 guidance ahead of consensus. Results benefited from accelerating volume growth in Texture & Healthful Solutions, which, combined with benefits of Ingredion’s Cost2Compete initiatives and price/cost management drove the 45c EPS beat, Oppenheimer says.