Report
Pierre Tegner

Pernod Ricard : The most accessible core holding for still buoyant momentum

>The least expensive core holding in our Food Spirits HPC coverage - Outperform rating maintained with a target price of € 217. With a 2023e P/E of close to 20x, the stock remains the most accessible core holding (strategically concentrated and operationally diversified) in our coverage whilst the outlook allows us to anticipate strong earnings growth which is relatively secured despite the uncertain macroeconomic context.A very confident tone - At th...
Underlying
Pernod Ricard SA

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.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Pierre Tegner

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