Bank of America Downgrades International Flavors & Fragrances to Underperform
Bank of America has issued a double-downgrade for International Flavors & Fragrances (IFF), moving the specialty chemicals company from a 'Buy' rating to 'Underperform.' Along with the downgrade, analysts lowered the price target for the stock from $95 to $91. The decision follows a material rally in IFF's share price. Analysts suggest that the stock currently lacks near-term catalysts to drive further growth, making significant upside potential difficult to achieve in the immediate future. Following the news, IFF shares fell 3.3% during Friday's trading session.
Topics: Price Target Change Specialty Chemicals Stock Downgrade