Interparfums price target lowered to $138 from $169 at Piper Sandler

Piper Sandler analyst Korinne Wolfmeyer lowered the firm’s price target on Interparfums (IPAR) to $138 from $169 to better align with current market conditions, while keeping an Overweight rating on the shares. The firm’s viewpoint of Interparfums as a favored name is unchanged following the Q1 prerelease. Sales were ahead of expectations, despite the macro volatility, and guidance was reiterated, which is proving to be rather prudent, Piper adds.