Remy Cointreau : Q2 2024-25: downward revision to full-year targets
>Outperform rating maintained and target price unchanged at € 90 - We maintain our Outperform rating and target price of € 90. The group is the best placed to play the recovery of the spirits market which is likely to come via the US and/or China. At this level of valuation (18x P/E NTM), the stock could in this event see renewed investor interest. In the meantime, investors will have to be patient as growth is still lacking and the timing of its return is uncertain....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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