Rémy Cointreau: UBS expects fall in sales
(CercleFinance.com) - The analyst maintains his neutral recommendation on the share with a target price of E93, which leaves 19% upside potential for the cognac and other spirits house.
"We see downside risk to Q1 organic sales (UBSe -19.2% vs cons -9.3%), noting trends in US and China remain weak coupled with challenging comps in the quarter", UBS says.
At its current price, the stock has a 2024 P/E of almost 25x and a yield of around 2%.
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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.
"We see downside risk to Q1 organic sales (UBSe -19.2% vs cons -9.3%), noting trends in US and China remain weak coupled with challenging comps in the quarter", UBS says.
At its current price, the stock has a 2024 P/E of almost 25x and a yield of around 2%.
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.