Inter Parfums Inc hits record high on increased 2023 sales outlook

Interparfums

20/04/2023 19:24

** Perfumes and cosmetics maker Inter Parfums Inc's  IPAR.O 
shares up about 5% at $159.11, hit record high
    ** Company raises 2023 net sales forecast to $1.25 bln from
$1.20 bln  urn:newsml:reuters.com:*:nTUA9GMMG2
    ** Q1 net sales up 24% at $312 mln, helped by strong
performance in Europe and revival in China sales
    ** Brokerage Piper Sandler raises PT on company's shares to
$178 from $170
    ** 3 of 4 analysts rate the stock "buy", 1 "hold"; median PT
$174 - Refinitiv
    ** Including session's gains, company's shares up 65.04% YTD

 (Reporting by Sruthi Narasimha Chari in Bengaluru)
 ((sruthinarasimha.chari@thomsonreuters.com))