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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."


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