Inter Parfums price target lowered to $155 from $158 at Piper Sandler

Piper Sandler lowered the firm’s price target on Inter Parfums (IPAR) to $155 from $158 and keeps an Overweight rating on the shares. The firm notes the company’s 2025 guidance and subsequent estimate reset creates a nice entry-point for investors wanting greater exposure to high-quality smid-cap beauty right now. Sales targets came in about one point lighter than Piper’s already-lowered 5% estimate, and it seems like management might be planning for some P&L deleverage with EPS to grow at the same rate as the top line. That said, the firm also recognizes management tends to take a very prudent approach with initial expectations, and advises investors to not over-react, but rather take advantage of current share levels.