Remy Cointreau : Guidance maintained for FY 2023-24 and reassuring signals
>Outperform maintained with a target price unchanged at € 129 - Outperform rating maintained with a target price of € 129. Q3 sales continued to reflect very unfavourable momentum driven by destocking in the US and China, which is likely to underpin the nervousness of investors, many of whom have capitulated in view of the strong underperformance in YTD (-23%). This publication nevertheless provides some positive elements if viewed in the perspective of the valuation ...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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