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 reported first quarter results detailing how consumer demand for fragrances has yet to wane even in a difficult to compare period</li>
<li>In a change of strategy than prior years, IPAR is spending more in the early parts of the year to build awareness for its lineup of products </li>
<li>With one quarter past, we believe Lacoste and Roberto Cavalli are additive to the investment story and not the year’s only topic</li>
</ul>


IPAR reported first quarter results detailing how consumer demand for fragrances has yet to wane even in a difficult to compare period
In a change of strategy than prior years, IPAR is spending more in the early parts of the year to build awareness for its lineup of products 
With one quarter past, we believe Lacoste and Roberto Cavalli are additive to the investment story and not the year’s only topic


<ul>
<li>IPAR has started 2024 with what could be described as relaunching of the Lacoste fragrance line after IPAR encountered under investment by the previous licensee</li>
<li>There is increased investor concern consumer appetite for fragrances could wane even though so far there has been little sign of it</li>
<li>Specific to Lacoste, we expect greater excitement when IPAR releases its first fragrance for the brand later this year</li>
</ul>


IPAR has started 2024 with what could be described as relaunching of the Lacoste fragrance line after IPAR encountered under investment by the previous licensee
There is increased investor concern consumer appetite for fragrances could wane even though so far there has been little sign of it
Specific to Lacoste, we expect greater excitement when IPAR releases its first fragrance for the brand later this year


Equity Research Focusing on the Consumer Sector, Small Cap Consumer Research

Small Cap Consumer Research

Equity Research Focusing on the Consumer Sector

Small Cap Consumer Research, LLC is a leading company-sponsored equity research provider focusing on the consumer sector (apparel, brand licensing and specialty retailing segments).

<ul><li>We are reiterating our Buy rating and $0.25 price target for Starco Brands, leaving our 2024 projections basically unchanged and rolling out another year of double-digit top and EBITDA growth after the company reported inline 4Q23 results and left 2024 guidance unchanged.</li><li>We believe, with multiple potential expansion opportunities in category adjacencies and new relationships, continued innovation and vertical integration and the potential for further accretive acquisitions (which are not in our projections), Starco is aligned to register further material progress on numerous fronts in 2024 and beyond.</li><li>As such, we are reiterating our Buy rating and $0.25 price target for STCB</li></ul>

We are reiterating our Buy rating and $0.25 price target for Starco Brands, leaving our 2024 projections basically unchanged and rolling out another year of double-digit top and EBITDA growth after the company reported inline 4Q23 results and left 2024 guidance unchanged.We believe, with multiple potential expansion opportunities in category adjacencies and new relationships, continued innovation and vertical integration and the potential for further accretive acquisitions (which are not in our projections), Starco is aligned to register further material progress on numerous fronts in 2024 and beyond.As such, we are reiterating our Buy rating and $0.25 price target for STCB

elf Beauty Inc - STCB: 4Q Review: Setting Up the Next Steps; Reiterate Buy, PT

<ul><li>We are reiterating our Buy rating and $0.25 price target for Starco Brands with the company announcing 4Q23 (December) results after the close on Monday.</li><li>We believe 2024, with a full compliment of unique, value-added brands which leverage Starco's aerosol and marketing infrastructure in hand, and a laser focus on adding key categories and new relationships, is shaping up as another year of material progress for Starco.</li><li>We believe there are also continued margin expansion opportunities from both economies of scale and the company's manufacturing expertise.</li></ul>

We are reiterating our Buy rating and $0.25 price target for Starco Brands with the company announcing 4Q23 (December) results after the close on Monday.We believe 2024, with a full compliment of unique, value-added brands which leverage Starco's aerosol and marketing infrastructure in hand, and a laser focus on adding key categories and new relationships, is shaping up as another year of material progress for Starco.We believe there are also continued margin expansion opportunities from both economies of scale and the company's manufacturing expertise.

elf Beauty Inc - STCB: 4Q Preview; Shooting Higher in 2024; Reiterate Buy, $0.25 PT

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

<ul><li>Based on the Q4 2023 and Full Year earnings for Inter Parfums Inc., a company specializing in fragrances, the overall view of the company's financial performance showed sustained growth and potential for future profitability.</li><li>However, various factors, including macroeconomic uncertainties, may affect operations.</li><li>In 2023, Inter Parfums posted a record net sales of $1.3 billion, a 21% increase compared to the previous year.</li></ul>

Based on the Q4 2023 and Full Year earnings for Inter Parfums Inc., a company specializing in fragrances, the overall view of the company's financial performance showed sustained growth and potential for future profitability.However, various factors, including macroeconomic uncertainties, may affect operations.In 2023, Inter Parfums posted a record net sales of $1.3 billion, a 21% increase compared to the previous year.

Inter Parfums Inc.: A Stimulating Pipeline of Innovation & 3 Other Key Growth Catalysts! - Financial Forecasts

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)

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elf Beauty Inc - STCB: 4Q Review: Setting Up the Next Steps; Reiterate Buy, PT

We are reiterating our Buy rating and $0.25 price target for Starco Brands, leaving our 2024 projections basically unchanged and rolling out...

Small Cap Consumer Research

elf Beauty Inc - STCB: 4Q Preview; Shooting Higher in 2024; Reiterate Buy, $0.25 PT

We are reiterating our Buy rating and $0.25 price target for Starco Brands with the company announcing 4Q23 (December) results after the close on...

Small Cap Consumer Research

Inter Parfums Inc.: A Stimulating Pipeline of Innovation & 3 Other Key Growth Catalysts! - Financial Forecasts

Based on the Q4 2023 and Full Year earnings for Inter Parfums Inc., a company specializing in fragrances, the overall view of the company's...

Baptista Research

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