Remy Cointreau : A miss on guidance now factored in by the consensus and Pernod Ricard's Q1 FY 2024 performance suggests that momentum is at a low point
>Outperform maintained with target price unchanged at € 129 - Outperform recommendation maintained with a target price, obtained by our DCF approach, unchanged at € 129. Momentum is at a low as is the valuation, which is rare or even unprecedented. The 12-mth fwd P/E has fallen to 20x and at parity with the European Food Beverage HPC sector, whilst the stock has historically traded at a substantial premium. The risk that the targets for the current year might not be a...Remy Cointreau is an operator in the global wines and spirits market. Co. produces, markets and distributes Cognac, Liquors and Spirits and other non-group brand alcoholic beverages. Co.'s primary cognac brand is Remy Martin, produced from Petite Champagne and Grande Champagne eaux-de-vie. Co.'s principal liquor and spirits include the following brands: Cointreau, Passoa, Metaxa, St Remy, and Mount Gay. Co. also operates a distribution network that handles products from partners and third-party companies. Major non-group products distributed by Co. include Scotch Whiskies (Edrington brand), Champagne (Piper-Heidsieck and Charles Heidsieck brands) and Vodka.
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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