Ingredion Price Targets Shift to $120–$128 After Q4 Miss
Ingredion’s board on Feb. 11 appointed Jim Zallie as chairman while Barclays held its rating and set a $128 target. UBS raised its Neutral target to $124 on Feb. 5 and BMO cut its Market Perform target to $120 on Feb. 4 after Q4 results missed estimates due to headwinds.
1. Analyst Target Updates
On February 5 UBS raised its Neutral rating price target on Ingredion to $124 from $119, and on February 4 BMO lowered its Market Perform target to $120 from $123 after the company’s Q4 missed analyst estimates. Barclays reaffirmed its Hold rating on February 18 and maintained a $128 target, later raising that target from $124 following the quarterly report.
2. Leadership Change
On February 11 Ingredion’s Board of Directors unanimously elected President and CEO Jim Zallie as chairman, consolidating executive leadership and aligning strategic oversight with operational management.
3. Q4 Performance and Headwinds
Fiscal fourth-quarter results were weighed down by a facility outage and weaker Texture & Healthful Solutions segment performance, leading to revenue and profit shortfalls versus consensus forecasts.