Rémy Cointreau: Barclays downgrades stock
(CercleFinance.com) - Rémy Cointreau is down more than 3%, making it one of the biggest decliners on the SBF120, penalized by comments from Barclays, which downgraded its recommendation from "overweight" to "underweight", with a price target reduced from 220 to 128 euros.
The broker points out that in China, the key consumer population aged 25 to 45 is now in decline, "which, combined with slower economic growth, will probably lead to a slowdown in high-end spirits".
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