Pernod Ricard : H1 2023-24 earnings: reassuring comments and a return to growth forecast in H2 2023-24e
>Outperform rating maintained and target price adjusted to € 190 vs € 198 - We are sticking with our Outperform recommendation on the stock. The valuation at 17x NTM P/E remains appealing in both absolute terms (-19% below the 10-year average) and relative terms (-18% discount vs staples vs 10-year average at -12%) for a group with quality fundamentals that is returning to growth. The reassuring comments on the long-term outlook and the return to growth forecast ...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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