Rémy Cointreau: Berenberg downgrades 'buy' rating
(CercleFinance.com) - Berenberg has downgraded its rating on the Rémy Cointreau share from "buy" to "hold," with a target price of 117 euros (current price: 114.
4 euros, -2.3%), noting that the spirits group's share is trading at an enterprise value of 30.9x expected operating profit for 2021.
"With FY 2020 net sales already known, Rémy Cointreau's FY 2020 operating profit came in at EUR215.1m, 2.8% ahead of consensus expectations of EUR209.2m," the German broker points out.
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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.
4 euros, -2.3%), noting that the spirits group's share is trading at an enterprise value of 30.9x expected operating profit for 2021.
"With FY 2020 net sales already known, Rémy Cointreau's FY 2020 operating profit came in at EUR215.1m, 2.8% ahead of consensus expectations of EUR209.2m," the German broker points out.
Copyright (c) 2020 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.