Inter Parfums Q2 Sales Growth Comes As A Surprise, Says Analyst
Portfolio Pulse from Shivani Kumaresan
Inter Parfums Inc (IPAR) reported a 26% increase in Q2 2023 sales to $309 million, beating the consensus of $282 million. The company also raised its 2023 sales guidance to $1.3 billion from $1.25 billion. D.A. Davidson analyst Linda Bolton Weiser reiterated a Buy rating on IPAR shares with a price target of $187. The sales growth was attributed to the prestige fragrance market growth and share gains. The company's shares are trading higher by 9.8% at $143.84.
July 25, 2023 | 7:34 pm
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Inter Parfums reported a 26% increase in Q2 sales, beating consensus and raised its 2023 sales guidance. The company's shares are trading higher.
The company's better-than-expected Q2 sales and raised 2023 sales guidance indicate strong performance and future growth potential, which is likely to positively impact the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100