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Pernod Ricard: Jefferies raises target price

( - On Tuesday Jefferies said that it has raised its target price for Pernod Ricard shares from 230 euros to 235 euros, ahead of the publication of "solid" interim results.

In a report, the US broker said that it expects organic growth of 15% in the first six months of FY 2021/2022, with an operating margin of 16.9%.

By comparison, the consensus is currently looking for organic growth of 15.1%, with an operating margin of 15.5%, the broker notes.

Jefferies - which has a buy recommendation on the stock - says the opportunities presented by the favourable business momentum should be reflected in earnings, particularly given the product mix that the French spirits group enjoys.

Pernod Ricard is due to publish its H1 2021/22 sales and results on 10 February.

The market seems to be saying cheers to this outlook too - the share is currently up over 2%, outperforming the market, which is up about 1.3%.

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