Citi Keeps Their Buy Rating on International Flavors & Fragrances (IFF)
Citi analyst Patrick Cunningham reiterated a Buy rating on International Flavors & Fragrances on April 10 and set a price target of $90.00. The company’s shares closed last Friday at $72.52.
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Cunningham covers the Basic Materials sector, focusing on stocks such as LyondellBasell, PPG Industries, and International Flavors & Fragrances. According to TipRanks, Cunningham has an average return of 4.2% and a 50.28% success rate on recommended stocks.
Currently, the analyst consensus on International Flavors & Fragrances is a Strong Buy with an average price target of $91.30, implying a 25.90% upside from current levels. In a report released on April 10, Morgan Stanley also maintained a Buy rating on the stock with a $93.00 price target.
Based on International Flavors & Fragrances’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $2.59 billion and a net profit of $18 million. In comparison, last year the company earned a revenue of $2.77 billion and had a GAAP net loss of $46 million
Based on the recent corporate insider activity of 42 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of IFF in relation to earlier this year. Last month, Mark Costa, a Director at IFF bought 25.00 shares for a total of $2,056.80.
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