IFF price target lowered to $80 from $93 at Wells Fargo

Wells Fargo analyst Michael Sison lowered the firm’s price target on IFF to $80 from $93 and keeps an Overweight rating on the shares. While IFF continues to miss expectations and the N&B deal is disappointing, Wells remains bullish as the stock is below its 10-year low, and sees upside to its price target on resilience in its base F&F business and divestitures/deleveraging efforts.