Rémy Cointreau: Barclays upgrades straight to buy
(CercleFinance.com) - On Thursday Barclays upgraded its "underweight" rating on the Rémy Cointreau share directly to "overweight," as it sees potential for value creation in the spirits group.
Alongside this upgrade, it has more than doubled its target price from 68 euros to 152 euros.
In a research note, the broker argues that Rémy has become an unloved stock, with just one favourable recommendation out of the 20 analysts who monitor it.
While it says that it understands this "scepticism" because of the share's high price, Barclays believes that the group's new CEO has unveiled medium-term targets that seem "credible" and which could mean significant upside potential.
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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.
Alongside this upgrade, it has more than doubled its target price from 68 euros to 152 euros.
In a research note, the broker argues that Rémy has become an unloved stock, with just one favourable recommendation out of the 20 analysts who monitor it.
While it says that it understands this "scepticism" because of the share's high price, Barclays believes that the group's new CEO has unveiled medium-term targets that seem "credible" and which could mean significant upside potential.
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.