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Fly News Breaks for April 9, 2019
IPAR
Apr 9, 2019 | 07:51 EDT
DA Davidson analyst Linda Bolton Weiser lowered her price target on Inter Parfums to $80, saying that while the decline in the euro exchange rate should help its gross margins, she believes that her prior forecast of a 190bps expansion is "likely too high". The analyst is adjusting the model to assume 110bps expansion and also lowers her FY19 outlook by 15c to $1.95. Weiser keeps her Neutral rating on Inter Parfums and further points to the more challenging comps ahead with Coach and Karl Lagerfeld up over 100% in Q1 of 2018, even though she is positive on the launch of Montblanc as a growth driver for the company in the current quarter.
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