BofA upgrades IFF to Buy, sees opportunity in selloff

As previously reported, BofA analyst Salvator Tiano upgraded IFF (IFF) to Buy from Neutral with a price target of $107, down from $109, following Wednesday’s “unwarranted” selloff after the company’s third earnings beat of this year under its new CEO. The firm sees end-market demand improving in 2025-26 after a couple of years of pressure and contends that better results will equal earlier delevering, leading it to contends that the selloff provides a buying opportunity.