Founder, BWS Financial Inc

Hamed Khorsand

Founder

Independent Stock Specific Research

BWS Financial Inc

BWS provides independent stock specific research focused on companies with distinct value that are going through a special situation where there is a tangible catalyst not priced in. The catalyst can be anything from new product, restructuring, M&A, management change, change in business strategy, etc. BWS’s focus is to understand the change and evaluate the potential return for investors.

BWS utilizes a self formed proprietary approach in discovering stocks by putting great emphasis on deep research. BWS does generate short recommendations following a similar criteria.

Equity Bottom-Up

<ul>
<li>IPAR announced its first quarter sales highlighting the continued momentum in demand the Company has been seeing in recent quarters. </li>
<li>IPAR's major brands each grew by more than 20 percent compared to the year ago period. </li>
<li>IPAR raised full year sales and EPS outlook as the business continues to run with brisk demand</li>
</ul>


IPAR announced its first quarter sales highlighting the continued momentum in demand the Company has been seeing in recent quarters. 
IPAR's major brands each grew by more than 20 percent compared to the year ago period. 
IPAR raised full year sales and EPS outlook as the business continues to run with brisk demand


Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>Last week we discussed potential for a 2-5% rally to the 1.5-month downtrend on SPX, or even the 4165-4200 range, which would set up an opportunity to get more defensive.</li>
<li>As long as the S&amp;P 500 is below Wednesdays high of 4040 we continue to believe the bears are in control -- stay defensive.</li>
<li>Even if there is a reversal, we still expect 4165-4200 on SPX to cap upside for 2023. We highlight many buy opportunities within Consumer Staples</li>
</ul>


Last week we discussed potential for a 2-5% rally to the 1.5-month downtrend on SPX, or even the 4165-4200 range, which would set up an opportunity to get more defensive.
As long as the S&amp;P 500 is below Wednesdays high of 4040 we continue to believe the bears are in control -- stay defensive.
Even if there is a reversal, we still expect 4165-4200 on SPX to cap upside for 2023. We highlight many buy opportunities within Consumer Staples


S&P 500, Nasdaq 100, DJIA All Testing Resistance; Downgrading Financials to Underweight; Buy Staples

<ul>
<li>IPAR disclosing the sales benefit from the Lacoste license was the most notable item from the Company’s fourth quarter earnings call</li>
<li>IPAR had previously reported preliminary Q4 sales results making it less of a surprise as to how well the business was doing. Consumer demand for fragrances has yet to wane</li>
<li>In 2022 IPAR experienced growth from all regions and all its major brands. Montblanc, Jimmy Choo, Coach, and Guess grew by double-digits</li>
</ul>


IPAR disclosing the sales benefit from the Lacoste license was the most notable item from the Company’s fourth quarter earnings call
IPAR had previously reported preliminary Q4 sales results making it less of a surprise as to how well the business was doing. Consumer demand for fragrances has yet to wane
In 2022 IPAR experienced growth from all regions and all its major brands. Montblanc, Jimmy Choo, Coach, and Guess grew by double-digits


IPAR: 2024 in the Spotlight, Target Now $172

<ul>
<li>Since our last update in January 2023, Inter Parfums (IPAR) has released its preliminary fourth quarter sales results and there has been more data affirming consumer demand for fragrances</li>
<li>The reopening of China was earlier than IPAR's management's forecasts, which could have a material boost to sales in 2023.</li>
<li>The addition of Lacoste to the product portfolio remains the catalyst for 2024 sales growth</li>
</ul>


Since our last update in January 2023, Inter Parfums (IPAR) has released its preliminary fourth quarter sales results and there has been more data affirming consumer demand for fragrances
The reopening of China was earlier than IPAR's management's forecasts, which could have a material boost to sales in 2023.
The addition of Lacoste to the product portfolio remains the catalyst for 2024 sales growth


IPAR: Fragrance of a Price Target Increase

<ul>
<li>IPAR has added Lacoste to its portfolio of fragrance licenses and should lead to incremental growth in 2024.</li>
<li>Lacoste, like IPAR’s other major licenses, is a well-established brand that is likely to immediately contribute to sales and earnings growth when in 2024</li>
<li>Heading into the holiday shopping season of 2022, fragrance was proving as a high demand category from consumers</li>
</ul>


IPAR has added Lacoste to its portfolio of fragrance licenses and should lead to incremental growth in 2024.
Lacoste, like IPAR’s other major licenses, is a well-established brand that is likely to immediately contribute to sales and earnings growth when in 2024
Heading into the holiday shopping season of 2022, fragrance was proving as a high demand category from consumers


United States

Inter Parfums, Inc. manufactures, markets, and distributes a wide array of fragrances and fragrance related products. The Company's European-based operations produce and distribute prestige fragrance products primarily under license with brand owners. It's U.S.-based operations primarily produce and sell fragrance and personal care products under several specialty retail brands.

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Inter Parfums (IPAR US)

IPAR: Demand Outpacing Expectations

The demand environment continues to outpace expectations, which could strain component inventory. IPAR has the brand portfolio to continue to grow...

BWS Financial Inc

S&P 500, Nasdaq 100, DJIA All Testing Resistance; Downgrading Financials to Underweight; Buy Staples

Last week (3/21) we discussed the potential for a 2-5% rally to the 1.5-month downtrend on the $SPX, or even the 4165-4200 range, which we noted...

Vermilion Research

IPAR: 2024 in the Spotlight, Target Now $172

Lacoste becomes additive to IPAR's sales in 2024 and with the inclusion of DKNY on a full year basis should result in sales growing further from...

BWS Financial Inc

IPAR: Fragrance of a Price Target Increase

Raising our price target to $150 from $125 based on our growth expectations for 2024 after the Lacoste license win, we had highlighted at the very...

BWS Financial Inc

IPAR: Catalysts for Further Growth

IPAR acquired the Lacoste license just prior to Christmas. This is incremental to the growth story for 2024 as IPAR begins to launch its first...

BWS Financial Inc

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