IPAR's Outlook Stays Strong Despite Marginal Gross Margin Concerns; Analyst Cites Strong US & European Growth
Portfolio Pulse from Shivani Kumaresan
DA Davidson analyst Linda Bolton Weiser reiterated a Buy rating on Inter Parfums Inc (NASDAQ:IPAR) with a price target of $187. The company reported 2Q23 sales of $309 million, a 26% increase Y/Y. EPS of $1.09 was above the consensus. The strong performance was driven by both European and U.S. operations. The company raised the FY23 EPS guidance to $4.55 from $4.25 and maintained its sales guidance of $1.30 billion. IPAR shares are trading higher by 0.81% at $136.06.
August 10, 2023 | 5:53 pm
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POSITIVE IMPACT
Inter Parfums Inc's strong 2Q23 sales and raised FY23 EPS guidance have led to a Buy rating from DA Davidson analyst. The company's shares are trading higher.
The company's strong sales performance and raised EPS guidance indicate a positive outlook, which is likely to boost investor confidence and drive the stock price up in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100