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Berenberg cuts Inter Parfums stock rating on valuation concerns By Investing.com
Berenberg downgraded Inter Parfums (NASDAQ:IPAR) from Buy to Hold, raising its price target to $130 due to valuation concerns after a significant stock increase. The firm sees better relative value in the European subsidiary, Interparfums SA, and suggests a potential share buyback would target the subsidiary. Other analysts like TD Cowen and Goldman Sachs have also downgraded the …