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Fly News Breaks for November 22, 2019
IFF
Nov 22, 2019 | 05:35 EDT
Citi analyst P.J. Juvekar upgraded International Flavors & Fragrances to Buy from Neutral with a price target of $155, up from $137. Following a meeting with management, the analyst believes destocking in the Taste business with large consumer companies is coming to an end. Further, Frutarom's organic growth seems to have improved and the Russia investigation is behind International Flavor, Juvekar tells investors in a research note. In addition, he believes working capital reduction should lead to faster debt pay down for the company.
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