Pernod Ricard : Q3 sales at +19.6% l-f-l, well above estimates. Underlying operating profit guidance of +17% l-f-l for the current year
>Outperform rating maintained - Outperform rating maintained. We continue to think that the re-rating in the last three years is largely justified by the extent of the strategic concentration combined with a diversified operating footprint which enables Pernod Ricard to adapt to changing trends by offering the right product, at the right time, on the right channel and with the right brand. Moreover, the discount of over 10% in 12-mth fwd PER vs Diageo is somewhat unpr...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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