UPDATE: Oppenheimer Color on Inter Parfums Target Increase

Oppenheimer, which raised its PT on shares of Inter Parfums Inc. IPAR, is providing some color on the stock. “We are reiterating our Outperform rating and bullish stance on IPAR, while raising our DCF-derived target price to $25 from $22, after our recent upbeat meeting with EVP and CFO Russell Greenberg,” Oppenheimer writes. “Importantly, business trends remain healthy, with the company's new distribution relationship with Clarins already paying dividends. “In addition, Jimmy Choo is off to a very good start and could develop into IPAR's No. 2 brand. Finally, operating margin expansion is increasingly an area of focus for the company, with management targeting a return to 14%+ margins over time.” Inter Parfums closed Tuesday at $21.21.