Interparfums: Credit Suisse cuts target price
(CercleFinance.com) - Credit Suisse has cut its 2020 EPS estimate by 4% to 1.
10 euro.
Following this revision, the broker has cut its target price for the share by 7% to 40 euros (from 43 euros), although confirms its "Outperform" rating on the share.
"Our EPS revision reflects bringing our FY20 sales estimates more in-line with the latest guidance from the company (which includes an indication that, impacted by coronavirus, Q1 sales will be down c10%)".
"Our FY20 sales estimate has been lowered by 2% to E507m. Our margin estimate remains unchanged at 14.5%. Key risks include the importance each year of 2 or 3 new product launches," it says.
"We also continue to expect Interparfums to acquire new licences over the next 12 months."
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
10 euro.
Following this revision, the broker has cut its target price for the share by 7% to 40 euros (from 43 euros), although confirms its "Outperform" rating on the share.
"Our EPS revision reflects bringing our FY20 sales estimates more in-line with the latest guidance from the company (which includes an indication that, impacted by coronavirus, Q1 sales will be down c10%)".
"Our FY20 sales estimate has been lowered by 2% to E507m. Our margin estimate remains unchanged at 14.5%. Key risks include the importance each year of 2 or 3 new product launches," it says.
"We also continue to expect Interparfums to acquire new licences over the next 12 months."
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.