Oppenheimer Reiterates Outperform Rating, $23 PT for Inter Parfums

In a company update published earlier today, Oppenheimer Holdings reiterated its Outperform rating and $23.00 price target for Inter Parfums, Inc. IPAR. Oppenheimer went on to say “IPAR's very strong 1Q results reflect broad based sales momentum across its portfolio. However, the company chose not to revise guidance, as we await resolution of the Burberry license. Nonetheless, we reiterate our Outperform rating and $23 DCF-derived target price on the shares, as we believe potential downside to IPAR holders from a resolution is limited, while current valuation does not fully reflect the company's robust top line growth and very healthy balance sheet.” Inter Parfums, Inc. closed yesterday at $16.00