International Flavors & Fragrances Inc

IFF: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$616.00	Zgjn	Lnsfcjnk

IFF Earnings: Stock Dives on Plunging Near-Term Profits on Lower Volumes

Seth Goldstein

May 9, 2023

We maintain our $140 per share fair value estimate for International Flavors and Fragrances after updating our model to incorporate the company's first-quarter results. Our wide moat rating is also unchanged. IFF shares were down 10% at the time of writing as the market reacted negatively to both the company's weak start to 2023 and management’s second-quarter guidance below consensus expectations.

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