(News Bulletin 247) – Oddo maintains its neutral rating on the Interparfums stock, with a price target raised from 62 to 66 euros.
The analysis office highlights the 2022 results of Interparfums ‘above expectations and presaging higher future margins’.
Thus, the ROC and the BN are 6% and 12% higher than the consensus expectations: respectively 132 MEe and 99.5 ME against 124.2 MEe and 88.9 MEe expected. In addition, management is guiding on a 2023 turnover of approximately 750 ME (CS: 760 MEe)
In addition, Interparfums announces that it has just signed an agreement with Montblanc extending the license term by an additional 5 years, i.e. an extension from 12/31/2025 to 12/31/2030.
In this context, Oddo raises its revenue assumptions to 761 MEe (vs. 756 MEe) for 2023, and its 23rd ROC goes from 131 MEe (CS: 131 MEe) to now 159 MEe.
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