Susan Anderson, an analyst from Canaccord Genuity, maintained the Buy rating on Inter Parfums. The associated price target remains the same with $168.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Susan Anderson’s rating is based on several key factors that highlight the potential for growth in Inter Parfums’ stock. Despite reporting third-quarter sales that fell short of expectations, the company has shown resilience in its fragrance segment. Management has noted that while retailers are cautious with inventory and consumers are selective in spending, the market remains robust, and their innovative products continue to perform well.
European operations have demonstrated solid growth, with notable performances from brands like Jimmy Choo and Coach. Although U.S.-based operations faced challenges, such as the exit of the Dunhill license, there are positive signs for future growth. The company is expected to benefit from pricing strategies, new product launches, and favorable foreign exchange rates in the fourth quarter. These factors, combined with the anticipation of strong fragrance sell-outs and retailer replenishment, contribute to the optimistic Buy rating for Inter Parfums.
According to TipRanks, Anderson is a 5-star analyst with an average return of 17.7% and a 45.23% success rate. Anderson covers the Consumer Cyclical sector, focusing on stocks such as Ulta Beauty, Olaplex Holdings, and Sally Beauty.