PERNOD RICARD: A likely very dynamic Q4 leads Pernod Ricard to lift its FY 21 guidance | BUY | EUR200 VS. EUR188 (+11%)
PERNOD RICARD - BUY | EUR200 VS. EUR188 (+11%)A likely very dynamic Q4 leads Pernod Ricard to lift its FY 21 guidance
Management expects now a 16% COP increase vs +10% previously
We anticipate sales growth close to 11.5% vs +9.5% previously
Target price lifted from EUR188 to EUR200
Pernod Ricard produces and distributes wines and spirits. Co. produces aniseed products, vodka, whisky, cognac, rum, gin, liqueurs, champagnes and wines. Co.'s activity is organized around families of products built around brands. Its brands portfolio includes: ABSOLUT vodka, Ricard pastis, Ballantine's, Chivas Regal and The Glenlivet Scotch whiskies, Jameson Irish whiskey, Martell cognac, Havana Club rum, Beefeater gin, Kahlua and Malibu liqueurs, Mumm and Perrier-Jouet champagnes as well as Jacob's Creek and Brancott Estate wines. Co. is structured into four segments constituted by the following geographic regions: France, Europe (excluding France), Americas, Asia/Rest of the World.
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
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