DA Davidson elevated Inter Parfums to the firm’s ‘Best-of-Breed Bison’ list while maintaining a Buy rating and $192 price target. The stock is the only U.S. publicly traded pure play in prestige fragrance, which is an industry with attractive fundamentals, the analyst tells investors in a research note. Consumers have come to view fragrance as a mood-enhancing, self-care product, and they are experimenting more with new scents and wanting to own a fragrance “wardrobe” of many products, the firm adds, also stating that industry experts are projecting a CAGR of 6%-8% over the next five years.
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Read More on IPAR:
- Inter Parfums price target lowered to $172 from $175 at Piper Sandler
- Inter Parfums sees FY24 EPS $5.15, consensus $5.12
- Inter Parfums price target raised to $191 from $187 at DA Davidson
- Inter Parfums raises FY23 EPS view to $4.75 from $4.55, consensus $4.56
- Inter Parfums reports Q3 EPS $1.66, consensus $1.31
