IFF price target raised to $121 from $115 at Stifel

Stifel raised the firm’s price target on IFF (IFF) to $121 from $115 and keeps a Buy rating on the shares. The firm updated estimates into Q3 results, stating that while it continues to be cautious on the group as volume growth is likely to remain muted, it views IFF as “best positioned for continued outperformance,” reflecting conservative guidance on improving global volume trends and modest cost leverage. The firm thinks “another beat and raise” is likely, the analyst tells investors.