Piper Jaffray Assumes Inter Parfums (IPAR) at Neutral

Piper Jaffray assumes coverage on Inter Parfums (NASDAQ: IPAR) with a Neutral rating and a price target of $36.00.

Analyst Stephanie Wissink comments, "Our newly formed coverage universe focuses on consumer packaged goods companies encompassing household, beauty and children's products. Our viewpoint will be anchored around three key themes we see driving industry growth: demographics, distribution and diversification. We think companies with strategies to capitalize on millennial demand, cross channel distribution, and brand portfolio diversification will outperform. IPAR is currently in a revenue replacement phase having lost the key Burberry license this year. Cash generation is highly commendable, with balances near $9/shr, no debt, and a dividend payout over 50%. We are maintaining estimates for IPAR and our price target remains at $36 based on 23x FY15E EPS + cash per share of $8.84."

For an analyst ratings summary and ratings history on Inter Parfums click here. For more ratings news on Inter Parfums click here.

Shares of Inter Parfums closed at $28.29 yesterday.

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