Remy Cointreau : Edrington's move to super-premium continues: a future acquisition for Rémy Cointreau?
>Outperform maintained with a target price unchanged at € 95 - We reiterate our Outperform rating on the stock with a target price unchanged at € 95. Whether the recovery of the spirits market is driven by China or the US, we think that investors who are looking to play this recovery will favour Rémy Cointreau, the player with the greatest exposure to these markets and with a valuation level that is currently at an all-time low (17x NTM PE).Despite the post-Covid...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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