Cramer: Why This Stock Has Room to Run
When you have a lot of competitors vying for customers in the same space, it’s important to stand out, and International Flavors and Fragrances helps other companies do just that, Jim Cramer said on Wednesday.
International Flavors and Fragrances develops scents that are used in every day products including deodorant and fabric softeners and also comes up with flavors that allow food and beverage companies to reduce the salt and sugar content in their products. Multiple companies use International Flavors and Fragrances including Procter and Gamble, Unilever, Estee Lauder, Coca-Cola, and more.
“As these industries become increasingly competitive,” the “Mad Money” host said “there’s more pressure on the companies to go to IFF for help.”
After the company reported their earnings on August 8, the stock shot up 9.7 percent in a single day. As of Wednesday, International Flavors and Fragrances was near its high, and Cramer thinks it has room to run.
So, what does the company have planned? Cramer sits down with the CEO Doug Tough to find out. Check out the video to see the full interview.
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