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UPDATE: Oppenheimer Raises PT to $27 on Inter Parfums on Top Line and Margin Bullishness

Related IPAR
Earnings Scheduled For March 13, 2018
Inter Parfums Will Be Weighed Down By Valuation, Lack Of Fundamental Catalysts

Oppenheimer maintained Inter Parfums (NASDAQ: IPAR) with an Outperform rating and raised the price target from $24.00 to $27.00.

Oppenheimer analyst Joseph Altobello commented, "Inter Parfums' 4Q results were better than expected, boosted by strong gross margin expansion and a better than expected tax rate. Further, management reaffirmed 2013 guidance, which implies mid-teens sales growth for the non-Burberry portion of IPAR's portfolio. Importantly, we believe a second leg to the story is developing, namely margin expansion, to go along with robust top-line growth, while cash-adjusted valuation is palatable. Thus, we are reiterating our Outperform rating on the shares, while raising our DCF-derived target price to $27 from $24."

Inter Parfums closed at $23.42 on Wednesday.

Latest Ratings for IPAR

Jan 2018KeyBancDowngradesOverweightSector Weight
Jan 2018CitigroupDowngradesBuyNeutral
Jan 2018DA DavidsonUpgradesNeutralBuy

View More Analyst Ratings for IPAR
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