Pernod Ricard : Divestment of Becherovka: streamlining of the portfolio continues
>Outperform maintained and target price unchanged at € 198 - We are sticking with our Outperform recommendation on Pernod Ricard. The valuation is at a low point at 17x NTM P/E (vs 21x on average for the past 10 years), -20% below the average NTM PE of staples (vs -12% on average over the past 10 years), and constitutes an attractive entry point on a quality stock just as momentum should turn in the group's favour.Yesterday evening, the group announced that it is...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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