Interparfums price target lowered to $123 from $168 at Canaccord

Canaccord analyst Susan Anderson lowered the firm’s price target on Interparfums (IPAR) to $123 from $168 and keeps a Buy rating on the shares. The firm said Management noted that despite the overall prestige and luxury fragrance performing well, it is starting to moderate after multiple years of strong growth and near-term macro uncertainty which has led to some retailer destocking and changes in consumer behavior as they become more choosy.