IFF price target raised to $110 from $102 at JPMorgan

JPMorgan raised the firm’s price target on IFF to $110 from $102 and keeps an Overweight rating on the shares. All of the flavor and fragrance companies, including IFF, indicated positive volume trends through early August when they reported June quarter results, the analyst tells investors in a research note. The firm says the current positive volume characteristics for the flavor, fragrance, and enzyme companies are in excess of the growth rates of volumes for consumer staples companies. In addition, IFF does not have a “strenuous” volume comparison ahead of itself in Q3, notes JPMorgan.