Product Launches Give Reasons To Be Cautiously Optimistic

Analysts at Piper Jaffray maintain their "neutral" rating on Inter Parfums Inc IPAR, while raising their estimates for the company. The target price for IPAR is set to $15. Piper Jaffray says, “IPAR's gross margin for the quarter was 60.1% (up 340 bps y/y), ahead of our estimate of 57.8%. Gross margin was up primarily due to a more favorable product mix versus the prior year period.” “On the heels of the successful launch of the bebe signature which began in Summer 2009, bebe Sheer will debut later this month at bebe stores, Dillard's, and Ulta. Several upcoming new scents will also be unveiled for Brooks Brothers, with their debut scheduled for the fall. As a reminder, last month IPAR announced new 2011 product launches for Betsey Johnson and Nine West,” the analysts add. Piper Jaffray has raised its EPS estimate for FY10 from $0.80 to $0.82 which “reflects the better-than-expected FQ2 result as well as an increase in the company's FY10 EPS guidance from $0.80 to $0.82.” More Analyst Ratings here