Inter Parfums pullback brings ‘compelling’ entry point, says Piper Sandler

Piper Sandler analyst Korinne Wolfmeyer keeps an Overweight rating on Inter Parfums with a $170 price target after hosting meetings with management. The analyst sees a “very compelling entry point right now with the stock’s recent pullback.” The company is “capturing share as really the only pure-player” in the global prestige fragrance market, which can sustainably grow in the high-single-digits, the analyst tells investors in a research note. The firm says Inter Parfums is also delivering a “best in class margin profile” and is largely shielded from a potential economic downturn.