Remy Cointreau : We adjust our EPS estimates by -20% for FY 2023-24e while the consensus is likely to adjust by -15%
>Outperform rating maintained with an unchanged target price of € 129 - Outperform maintained with a target price unchanged at € 129. Rémy Cointreau issued a profit warning: the bad news is now official and investors now see the limits to their risks. Although H2 2023-24e is unlikely to see the recovery that the consensus, the previous guidance and we ourselves anticipated, the worst of the fall now seems to be over. The valuation (21.5x P/E NTM) remains attractive fo...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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