Report
Virginie Roumage

RÉMY COINTREAU: No extrapolation from Q1 – fundamentals remain good | BUY | EUR133 vs. EUR130 (+3%)

RÉMY COINTREAU - BUY | EUR133 vs. EUR130 (+3%)
No extrapolation from Q1 – fundamentals remain good

A small quarter which is not meaningful for the rest of the year
Cognac: suffering from negative phasing
L&S: heavily penalized by the revamping of distribution in Europe
Top line trend expected to accelerate post Q1
Underlying
Provider
Bryan Garnier
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.

Analysts
Virginie Roumage

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