Wedbush Morgan Upgrades Parlux Fragrances (PARL) to Buy
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Wedbush Morgan upgrades Parlux Fragrances (Nasdaq: PARL) from Hold to Buy and raises Parlux's price target from $4.50 to $8, saying channel checks indicate strong initial consumer response for the Jessica Simpson fragrance launch.
The firm suggests Jessica Simpson is potentially paving the way for expanded distribution for Parlux Fragrances' Paris Hilton and Guess lines.
Parlux Fragrances, Inc. is engaged in the creation, design, manufacture, distribution and sale of prestige fragrances and beauty-related products marketed primarily through specialty stores, national department stores and perfumeries on a worldwide basis.
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