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Pernod Ricard: UBS still on hold

( - UBS confirms its neutral rating on the Pernod Ricard stock with a target price of E199.

The analyst believes that the shift from a brand strategy to a portfolio strategy will improve performance in the US.

"Portfolio transformation should help to close the gap relative to the market and to drive outperformance over the medium-term," UBS said.

Pernod Ricard expects strong and diversified sales growth for the current financial year, despite a normalising environment, while it should maintain its operating margin.

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