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Morgan analyst Rommel T. Dionisio upgraded the stock to "Buy" from "Hold" and said lower costs should boost margins. Advertising rates have declined 20 percent from a year ago, Dionisio said, and prices for raw materials have "dropped sharply" in recent months.
Meanwhile, Dionisio said "Close" women's perfume, which was launched in April in Gap Inc's stores, is "off to a solid start."
"Not only would success of this major launch positively impact earnings, but also further entrench Inter Parfums fast growing business of becoming the exclusive designer and producer of fragrances for specialty retailers," Dionisio wrote in a client note.
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