Pernod Ricard : +2.9% expected in Q2 2023/24e; no changes to full-year forecasts
>Outperform rating reiterated with a TP of € 198 - Outperform rating reiterated on Pernod Ricard and TP kept at € 198. The derating offers investors a long-term opportunity on a quality stock. The stock and its valuation multiples have not been spared the punishment meted out by the stock market to the spirits sector since the start of the year. The share price has fallen by -15% YTD and is trading on a PE 12m fwd multiple of 17x (21% < its 10-year average). Its disco...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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