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Fly News Breaks for March 4, 2020
Mar 4, 2020 | 07:30 EDT
Raymond James analyst Joseph Altobello lowered the firm's price target on Inter Parfums to $63 from $82 and keeps an Outperform rating on the shares following the company's announcement of Q4 results that were overshadowed by a reduction in 2020 guidance reflecting coronavirus-related headwinds. All things considered, Altobello says underlying fundamentals remain strong and he continues to believe the stock does not fully reflect Inter Parfums' ample growth opportunities from both existing as well as potential new fragrance licenses, its meaningful operating leverage, and a healthy balance sheet.
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