Pernod Ricard: UBS remains neutral on stock
(CercleFinance.com) - UBS confirms its neutral recommendation on the share with an unchanged target price of E138 following the announcement of the sale of its strategic international wine brands to Australian Wine Holdco Limited (AWL), a consortium of international institutional investors which owns Accolade Wines.
"Pernod today announced the disposal of c85% of its International Strategic Wines portfolio, we expect the deal to be growth accretive but c1-2% EPS dilutive", UBS says.
The transaction involves a large portfolio of well-established international brands, representing an annual volume of 10 million nine-litre cases from three origins (Australia, New Zealand and Spain).
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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.
"Pernod today announced the disposal of c85% of its International Strategic Wines portfolio, we expect the deal to be growth accretive but c1-2% EPS dilutive", UBS says.
The transaction involves a large portfolio of well-established international brands, representing an annual volume of 10 million nine-litre cases from three origins (Australia, New Zealand and Spain).
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.