Remy Cointreau : Reassuring message on recovery in group growth in FY 2024-25e
>Outperform rating maintained and target price unchanged at € 129 - We maintain our Outperform rating on the stock and our € 129 target price. The valuation is attractive and, while operating performances are set to remain negative in FY 2023-24e, we think the wind is shifting. Although it is not clear the next few quarters will see the group return to growth, they should evidence a sequential improvement in its operating performances, resulting in a return to growth ...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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