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Fly News Breaks for December 17, 2019
IFF, DD
Dec 17, 2019 | 08:05 EDT
JPMorgan analyst Jeffrey Zekauskas lowered his price target for IFF (IFF) to $131 from $150 after the company and DuPont (DD) announced a Reverse Morris Trust transaction joining IFF's Flavor and Fragrance businesses with DuPont's Nutrition and Biosciences. The analyst thinks the transaction makes strategic sense and represents an "excellent investment opportunity at the current share price." Shares of IFF can rise 50% in value from the current price over a three year period, Zekauskas tells investors in a research note. He keeps an Overweight rating on the name.
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