Remy Cointreau : Still limited visibility on trajectory for cognac in US despite a reassuring tone
>Underperform rating and € 131 target price maintained - Underperform rating maintained with a target price of € 131. The stock’s positive reaction yesterday (+6% at the open and +4% at the close) lifted the 2024e P/E (to end-March) to 29x bearing in mind that this release has no impact on our estimates or those of the consensus. Confirmation of the guidance and the reassuring tone in the conference call probably reassured investors that the worst is over. But we stil...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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