IFS (IFF, Financial) experienced a reduction in its price target as Morgan Stanley adjusted its forecast due to slower anticipated order books. The new price target is now set at $100, a decrease from the previous $106, although the analyst maintained an Overweight rating for the company.
Despite this revision, Morgan Stanley expressed confidence in IFF's ability to navigate potential economic slowdowns better than other sectors within the chemical industry. The firm highlighted IFF’s focus on ingredients, which they believe are more resilient in comparison to broader industrial chemicals and possibly some consumer-related sectors.
This strategic adjustment reflects a cautious outlook on the macroeconomic environment while acknowledging IFF's strengths in the ingredients sector, which may offer some insulation against broader market challenges.
