Citi's analysts upgraded International Flavors & Fragrances (NYSE:IFF) rating from Neutral to Buy, boosting the price target to $100 from $81. This optimism is fueled by the potential carryover of improved volume levels from the second half of 2023 into 2024, alongside a keen focus on sales execution and productivity enhancements under the new CEO.

Additionally, a possible revival in the Functional Ingredients business further bolsters this positive outlook. With the bulk of significant updates, including the dividend reduction and the Pharma business sale, now in the past, there appears to be a clear path towards volume recovery and debt reduction. This trajectory is expected to positively influence the company's stock performance.