Perfect Corp. initiated with a Neutral at Piper Sandler

Piper Sandler analyst Clarke Jeffries initiated coverage of Perfect Corp. with a Neutral rating and $7 price target. The company "exists on the forefront of cornerstone trends" across retail, ecommerce, and social commerce, Jeffries tells investors in a research note. The analyst says that despite his belief in a "healthy" secular opportunity, Perfect is not immune to macroeconomic factors. He estimates the company’s 2023 revenue growth could moderate to mid-teens from over 35% last year due to he macro environment. Headwinds could weigh on Perfect’s path to greater scale, contends Jeffries.