BofA upgrades International Flavors & Fragrances to Buy as sales rise under new CEO

BofA Securities analyst Salvator Tiano upgraded International Flavors & Fragrances, Inc. (IFF) to a Buy rating, lowering the price target to $107. The company has exceeded earnings expectations under its new CEO and is revitalizing its research and development. In the third quarter, IFF reported net sales of $2.93 billion, a 4% increase from last year, driven by strong performance in various sectors. Volume growth was noted across all business areas. Tiano raised the earnings estimates for 2025 and 2026, citing improved results and attractive valuation compared to historical levels. IFF shares rose 1.99% to $91.95 following the news.