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Fly News Breaks for March 5, 2019
IPAR
Mar 5, 2019 | 07:47 EDT
DA Davidson analyst Linda Bolton Weiser downgraded Inter Parfums to Neutral on valuation after the 80% run-up in its stock price over the past 12 months and also raised her price target on the shares to $84 from $72. The analyst notes that the current valuation on Inter Parfums is at a "very high" premium of 62% relative to its peer group. Weiser also notes that her assumptions for Inter Parfums calling for a 30% operating profit growth in 2019 are already at "best case" and "highest post-recession" growth for the company.
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