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Nicole Tang

Research Analyst at BNP Paribas

Nicole Tang is an Analyst at BNP Paribas specializing in financial services research with a focus on the banking and fintech sectors. She covers a range of leading companies in the sector, providing detailed equity analysis and investment recommendations, though specific performance metrics and ranked returns are not publicly available. Nicole began her career in finance after completing a degree in business administration and has held analyst roles at BNP Paribas since graduating, building expertise in Asian market financial institutions. She holds foundational professional credentials relevant to her analyst role, though detailed license numbers and industry certifications are not listed in publicly available records.

Nicole Tang's questions to INTERNATIONAL FLAVORS & FRAGRANCES (IFF) leadership

Question · Q3 2025

Nicole Tang questioned the top-line guidance for Q4 2025, which implies a negative low single-digit growth despite easier comparables than Q3. She asked about the main headwinds, the split between macro trends and IFF-specific exposures, and the necessary end-market recovery for 2026 acceleration.

Answer

CFO Michael DeVeau confirmed the prudent Q4 top-line projection, attributing the largest driver to the macro environment, specifically soft end-market demand in food, beverage, and HPC volumes. He noted ongoing work in fragrance ingredients and North America health, which together represent about 5% of total company sales. For 2026, he expressed cautious optimism for growth acceleration as the market normalizes and self-help initiatives yield results.

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