INTERPARFUMS : Oddo raises its target price
The research firm highlights Interparfums' 2022 results, which are 'ahead of expectations and point to higher future margins'.
Operating profit and net income are 6% and 12% higher than consensus expectations: e132m and e99.5m respectively, compared with expectations of e124.2m and e88.9m. In addition, management is guiding sales for 2023 at around e750m (CS: e760m)
In addition, Interparfums announces that it has just signed an agreement with Montblanc extending the license period by a further 5 years, i.e. from 12/31/2025 to 12/31/2030.
In this context, Oddo is raising its sales assumptions to e761m (vs. e756m) for 2023, and its OIR 23e from e131m (CS: e131m) to e159m.
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