Inter Parfums price target raised to $175 from $172 at Piper Sandler

Piper Sandler raised the firm’s price target on Inter Parfums to $175 from $172 and keeps an Overweight rating on the shares. Heading into the year, the firm believes it’s prudent to take a more cautious view on the macro and favor names that fit as defensive plays. Piper is looking for strong/reliable fundamentals, names that are less cyclical, positioned to benefit from key beauty & wellness trends, and names that come at attractive valuations. However, it does see opportunity for the more discretionary and “growthy” names to come into favor as the year progresses.