Pernod Ricard: Barclays raises target price

(CercleFinance.com) - Barclays reaffirms its "overweight" recommendation on the Pernod Ricard share, having increased its corresponding target price from 168 euros to 185 euros, underlining that the French spirits giant has had a solid first half year.


"Spirits have remained resilient in the US, and China has provided strong growth in the first four months of the year - boding well for Chinese New Year (CNY). Momentum in India continues to improve," the broker says.

"Only Europe, with governments' continued reliance on lockdowns, has had problems at the end of 2020," Barclays adds, although it has "reasons to believe that growth will be faster than previously thought in 2H 21".



Copyright (c) 2021 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.