Parlux Shares Rise Owing to Strong Demand for Jessica Simpson Perfumes
Shares of Parlux Perfumes rose by 4 percent owing to the strong demand for Jessica Simpson perfumes. The shares are hitting a new year high as Wedbush Morgan analyst Rommel Dionisio upgraded the shares to “Buy” from “Hold”.
Dionisio also raised his price target on the stock to $8 from $4.50. The revenue forecast for 2009 has been raised to $173 million from $167 million.
In a research note, Dionisio told investors that the launch of the new perfume earlier this month has met with strong customer response even before the start of major marketing campaigns. Several retailers reported that the first shipment of the fragrance got sold out within a few days.
The continued success of the Jessica Simpson perfume is expected to expand the distribution of Parlux’s Paris Hilton and Guess Perfumes.
written by The Big Bopper •
Permalink •
Leave a Comment »
Tags: fragrances, guess, jessica simpson, paris hilton, parlux, perfumes
pligg.com says:
BOP News - Blog on Perfume News » Blog Archive » Parlux Shares Rise Owing to Strong Demand for Jessica Simpson Perfumes
Shares of Parlux Perfumes rose by 4 percent owing to the strong demand for Jessica Simpson perfumes.
Thursday, 28 August 2008 @ 6:18am