Pernod Ricard : H1 2023/24 results in line but FY 2023/24 organic growth guidance lowered
>Outperform rating and target price of € 198 maintained - We are maintaining our Outperform rating on Pernod Ricard and our target price of € 198. We continue to believe that the current valuation (NTM P/E of 16x), is attractive for a quality stock that should return to growth in 2024.The group is guiding on flat organic sales in FY 2023/24, whereas the consensus if looking for growth of 2%. This adjustment in guidance could lead to a downward adjustment of aroun...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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