Pernod Ricard : Q1 should be better than expected. 12-mth fwd PER remains the least expensive of the core holdings in Food Spirits HPC
>Outperform maintained - Outperform rating maintained with a target price of € 217. The share's outperformance over three months (+2% vs a panel of 36 Food Spirits HPC stocks in Europe and the US at -5%) has led to an outperformance YTD. We are well aware that the focal point of 2009 PER multiples in a context of a break in the consumption trend (and higher interest rates) is a risk factor that is gaining traction with investors. As such, the 12-mth fwd PER of 19x may...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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