Pernod Ricard : Q1 FY 2024 in line at -2.5% l-f-l with a decline in China, and the US in line or even a shade stronger than anticipated. A reassuring message but scant detail
>Outperform maintained with a target price unchanged at € 198 - Outperform recommendation maintained for Pernod Ricard with a target price unchanged at € 198. The de-rating offers a long-term opportunity on a quality stock. Neither the share price nor the valuation multiples have been spared the sanction of the spirits sector on the stock market since the beginning of the year. The stock has delivered a performance of -15% YTD with a 12-mth fwd P/E of 17x (21% below i...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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