Pernod Ricard: UBS lowers target price

(CercleFinance.com) - UBS expects sales to remain weak.
The analyst confirms his neutral rating on the stock, lowering his target price to E118 (from E122).

The broker expects Q2/H1 organic sales of -2.9%/-4.3%, vs. -0.2%/-2.6% for consensus, and lower margins leading to H1 organic EBIT of -6.3% (vs. -2.7%).

Pernod Ricard has confidently reiterated its medium-term ambitions, and forecasts a return to organic sales growth for FY 2024-25, with a continued recovery in volumes, and the maintenance of its organic operating margin.


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