Remy Cointreau : FY 2023-24 EPS +5% above the consensus, and a bit more visibility on the recovery trajectory
>Outperform rating maintained with an unchanged target price of € 125 - We maintain our Outperform rating on Rémy Cointreau with an unchanged target price of € 125. The valuation at 23x P/E NTM offers an unprecedented entry point on a share with high quality fundamentals. The level of uncertainty on the recovery trajectory in China and the US is priced in and the publication of FY 2023-24 results provides a bit more detail on the trajectory in the current financial ye...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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