DA Davidson analyst Linda Bolton Weiser raised the firm’s price target on Inter Parfums (IPAR) to $176 from $158 and keeps a Buy rating on the shares. The analyst states that component shortages could ease soon, as they already have for Coty (COTY), while Lacoste alone could add sales of $150M or 12.5% in 2024, which may not be reflected in Street estimates. DA Davidson also increases its model earnings multiple to 37-times from 35-times to reflect Inter Parfums’ greater growth visibility.
Published first on TheFly
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Read More on IPAR:
- Inter Parfums price target raised to $170 from $160 at Piper Sandler
- Inter Parfums price target raised to $172 from $150 at BWS Financial
- Inter Parfums price target raised to $158 from $126 at DA Davidson
- Inter Parfums price target raised to $160 from $130 at Piper Sandler
- Inter Parfums board raises annual cash dividend rate 25% to $2.50 per share
