Rémy Cointreau : Cognac en baisse de 44,7% au T1 2023/24e (vs css à -45,5%)
>Sous-performance maintenue - Sous-performance maintenue avec un OC à 131 €. Nous pensons qu’il est prématuré de tabler sur un fort rebond au S2 2023/24e dont dépend la guidance de stabilité du CA et de la MOP en organique pour 2023/24, réitérée par le management ce matin. Avec un PER 23e (clôture en mars 2024) proche de 28x, la valorisation reste élevée compte tenu des incertitudes de court terme et du risque de poursuite d’ajustement à la baisse du consensus tant s...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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