BGB Securities Reiterates International Flavors & Fragrances Buy

BGB Securities reiterated its International Flavors & Fragrances IFF Buy rating in a research report published today. BGB Securities has previously given International Flavors & Fragrances a $75 price target. In the report, BGB Securities states, "IFF reported 2Q11 results on Tuesday, August 9, 2011. Despite challenging YoY comps and a 12% YoY escalation in raw material costs, IFF posted a 14% gain in EPS. These results give us confidence that IFF will achieve solid results in the second half of FY11 despite continuing raw material cost increases." Shares of International Flavors & Fragrances were trading at $53.40 at the time of posting, down 3.42% from Wednesday's market close.