Interparfums: at the top of the SBF, Berenberg initiates a buy recommendation
April 23, 2024 at 09:45 am
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Interparfums climbed on the Paris Bourse this Tuesday in the wake of a favorable note from Berenberg, which initiated a buy recommendation on the stock.
At around 10:20 a.m., the share price of the licensed perfume designer was up by just under 3%, and was among the leaders of the SBF 120 index, which was up by 0.3% at the same time.
In a research note, Berenberg praises the pure-play specialization of the prestige fragrance manufacturer, which it believes will benefit from the "golden age" currently being experienced by the sector.
All signs point to a significant expansion of its offering over the medium term, given that Interparfums has so far outperformed its market", the German financial intermediary points out in its study.
Its price target of 62 euros thus highlights a potential upside of around 25%.
The group is due to publish its 1st quarter sales next Thursday.
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Interparfums specializes in the design, manufacturing and marketing of luxury fragrances. The group's activity is organized primarily around 2 product families:
- fragrance: Montblanc, Jimmy Choo, Coach, Lanvin, Rochas, Boucheron, Karl Lagerfeld, Van Cleef & Arpels, Paul Smith, Kate Spade, Moncler, Repetto and S.T. Dupont brands;
- women's and men's fashion items: Rochas brand.
Products were being marketed through perfume shops, franchise chains and department stores in France, and through import companies, airports, and airlines abroad.
Net sales are distributed geographically as follows: France (5.4%), Europe (24.5%), North America (40.4%), Asia (14.5%), South America (8.3%), Middle East (6.3%) and Africa (0.6%).
INTERPARFUMS 
