UBS Remains Sidelined on Int'l Flavors & Fragrances (IFF); Lowered 4Q Guidance
- Dow, S&P 500 surge to highs; transports set record
- Unusual 11 Mid-Day Movers 12/7: (ANTH) (EMKR) (PLAY) Higher; (SIGM) (OHAI) (FTK) Lower
- Abbott (ABT) Files Complaint to Terminate Alere (ALR) Acquisition
- Western Digital (WDC) Raises Q2 Outlook
- Biotech, Pharma Stocks Weaker Amid Trump Comments on Lower Drug Prices
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
UBS maintained a Neutral rating on International Flavors & Fragrances (NYSE: IFF), and cut the price target to $129.00 (from $132.00), following the company's 3Q earnings report. IFF reported adjusted EPS of $1.38, ahead of consensus estimates of $1.41. Management guided to December Quarter EPS of ~$1.12, compared to estimates of $1.19.
Analyst John Roberts commented, "Conf. call at 10am ET (888-297-9017 #95473986). IFF had “anticipated performance to be muted given the timing of planned investments, yet results came in [even] softer than expected due principally due to unfavourable mix & higher manufacturing costs”. We’re trimming our DecQ EPS estimate from $1.19 to $1.16, & 2017 EPS from $5.90 to $5.85."
Shares of International Flavors & Fragrances closed at $131.12 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Wedbush Raises Price Target on Francesca's (FRAN) Following 3Q Report
- Cowen Downgrades Nike (NKE) to Neutral; Sees Lower Guidance
- Deutsche Bank Downgrades MGM Growth Properties (MGP) to Hold
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesUBS, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!