Fly News Breaks for March 21, 2019
Mar 21, 2019 | 04:59 EDT
Goldman Sachs analyst Adam Samuelson last night upgraded International Flavors & Fragrances to Buy from Neutral and raised his price target for the shares to $151 from $137. With the shares down 8.7% year-to-date following the company's "disappointing" Q4 results and 2019 results, the stock now offers a "compelling entry point," Samuelson tells investors in a research note. The analyst believes International Flavors is "on the cusp" of a multi-year margin inflection, with the company reaching new peak EBITDA margins in 2021. He views International Flavors as a "high-quality defensive name" trading at an attractive valuation.
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