International Flavors & Fragrances Inc. (NYSE:IFF) stock has reached a new 52-week high, trading at $101.89. This milestone reflects a significant period of growth for the company, with the stock price soaring amidst a robust market performance. Over the past year, IFF has witnessed an impressive 47.56% increase in its stock value, indicating strong investor confidence and a positive response to the company's strategic initiatives and financial results. The achievement of this 52-week high serves as a testament to IFF's market resilience and the successful execution of its business plans.
In other recent news, International Flavors & Fragrances (IFF) has seen a flurry of analyst activity and company developments. Stifel upgraded IFF from Hold to Buy, anticipating the company's performance to exceed its 2024 outlook, and raised the price target to $115. The firm's optimistic view is supported by a projected increase in sales and adjusted EBITDA for 2024-2025, which Stifel estimates to be higher than IFF's highest expectations. Additionally, Mizuho Securities raised its price target for IFF shares to $106, citing potential leadership changes that could spur further restructuring initiatives.
Jefferies, too, increased its price target for IFF to $111, maintaining a Buy rating and projecting positive near-term trends for the company. On the other hand, Morgan Stanley (NYSE:MS) downgraded IFF's stock from Overweight to Equalweight, keeping a price target of $100.00, due to the stock nearing the firm's set price target and the consensus on FY24 Adjusted EBITDA aligning with its forecast.
Oppenheimer also initiated coverage on IFF with an Outperform rating and a price target of $116.00 per share, highlighting the company's ongoing transformation in line with consumer demand for health and environmentally friendly products. As part of its ongoing growth and transformation initiatives, IFF has added Margarita Paláu-Hernández to its Board of Directors, a move expected to support strategic planning and execution. These are the recent developments for International Flavors & Fragrances.
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