Pernod Ricard: Jefferies confirms Buy recommendation
(CercleFinance.com) - Jefferies confirms its Buy recommendation on the stock, with an unchanged TP of E170 ahead of its Q4 release.
The analyst sees 2024 as a bottom for earnings, given the peak of destocking and the difficulties associated with exiting Russia.
Although Q1 2025 will be lacklustre, our estimate for full-year 2025 organic sales/EBIT +3%/+4% remains unchanged, UBS says.
The current share price does not take into account this slowdown in growth and the absence of obvious short-term catalysts, which offers an attractive entry point for long-term investors, the broker adds.
Pernod Ricard remains confident in its medium-term ambition, which targets sales growth at the top end of a range between +4% and +7%, and an expansion of the operating margin on ordinary activities by +50bp to +60bp.
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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.
The analyst sees 2024 as a bottom for earnings, given the peak of destocking and the difficulties associated with exiting Russia.
Although Q1 2025 will be lacklustre, our estimate for full-year 2025 organic sales/EBIT +3%/+4% remains unchanged, UBS says.
The current share price does not take into account this slowdown in growth and the absence of obvious short-term catalysts, which offers an attractive entry point for long-term investors, the broker adds.
Pernod Ricard remains confident in its medium-term ambition, which targets sales growth at the top end of a range between +4% and +7%, and an expansion of the operating margin on ordinary activities by +50bp to +60bp.
Copyright (c) 2024 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.