Fly News Breaks for November 21, 2019
Nov 21, 2019 | 09:03 EDT
DA Davidson analyst Linda Bolton Weiser lowered her price target on Inter Parfums to $76 and kept her Neutral rating after its initial 2020 sales guidance of up 4% was light of the 7% growth consensus view. The analyst says the management cited headwinds related to the protest situation in Hong Kong, uncertainty around Brexit, China tariffs, and two product launches taking place later in 2020 than originally planned. Weiser also anticipates the possibility of near-term multiple compression, as Q4 organic sales growth could slow to 1% from double-digit rates in Q2-Q3, lowering her FY20 EPS view to $2.00 from $2.20.
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