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Fly News Breaks for June 10, 2019
IPAR
Jun 10, 2019 | 07:41 EDT
DA Davidson analyst Linda Bolton Weiser upgraded Inter Parfums to Buy from Neutral with an unchanged price target of $78 after the stock's 15% pullback from its March 5th highs. The analyst is also positive on the company's new license for Kate Spade fragrance, which she believes could have a growth trajectory similar to that of Coach, reaching sales of up to $70M in the next few years. Weiser adds that the segment's Q2 sales may be the highest of the quarter thanks to its Montblanc Explorer and new Lanvin and Anna Sui scents.
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