Interparfums price target raised to $164 from $155 at Piper Sandler

Piper Sandler raised the firm’s price target on Interparfums (IPAR) to $164 from $155 and keeps an Overweight rating on the shares. The firm says Interparfums remains one of its favorite names in beauty, supported by a healthy fragrance market and strong portfolio of licensed and owned brands, coupled with current estimates that look prudent and a valuation that still looks attractive. Additionally, Piper views the newly announced agreement with Off-White as a signal that Interparfums remains in a strong competitive position to continue capturing new brands and support above-market growth.