Bryan Garnier - Remy Cointreau SA (RCOP.PA) REMY COINTREAU: Both Cognac and LS surprising positively | BUY | EUR126

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Bryan Garnier

Virginie Roumage

REMY COINTREAU: Both Cognac and L&S surprising positively | BUY | EUR126

REMY COINTREAU - BUY | EUR126(+24%)
Both Cognac and L&S surprising positively

8.7% organic sales growth in Q3
Cognac: still the growth driver
Liqueurs & Spirits: clear signs of improvement
Partner Brands: return into negative territory
Unchanged full year forecasts post this release
Buy recommendation reiterated

22/01/2019 3 EN

Underlying

Remy Cointreau SA

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Provider

Bryan Garnier

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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Analysts

Virginie Roumage

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Bryan Garnier

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REMY COINTREAU: Both Cognac and L&S surprising positively | BUY | EUR126

RÉMY COINTREAU | NEUTRAL | EUR210 VS. EUR205 Short term upside into Q1 sales

RÉMY COINTREAU: Confidence of the management for the current year | NEUTRAL | EUR205

RÉMY COINTREAU NEUTRAL | EUR197 FY sales in line with expectations. Strong growth in FY EBIT not quantified at this stage

Egetis: Submits pre-NDA meeting, positive recruitment update

Faron: Positive FDA feedback sends BEX into a registrational phase 2/3 study

Fastned: H1 results, GM recovery, roll-out acceleration expected in H2

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