Rémy Cointreau: Oddo BHF still steering clear
(CercleFinance.com) - Oddo BHF maintains its Underperform rating on Rémy Cointreau shares, along with its target price of E134.
The continued fall in its share price now leaves little downside relative to its target price: at this stage investors will consider the consensus to be relatively stable, the analyst says.
However, the broker believes that the forecast falls in Q1 (between -30% and -40% LFL), suggest a rebound in H2 that is too significant to take for granted and thus achieve the guidance of flat organic sales for the year.
In addition, the consensus still expects a return to a normalised growth rate of 6% to 7% as early as the financial year starting in April 2024, although it is possible that this will be more gradual, Oddo BHF adds.
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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 continued fall in its share price now leaves little downside relative to its target price: at this stage investors will consider the consensus to be relatively stable, the analyst says.
However, the broker believes that the forecast falls in Q1 (between -30% and -40% LFL), suggest a rebound in H2 that is too significant to take for granted and thus achieve the guidance of flat organic sales for the year.
In addition, the consensus still expects a return to a normalised growth rate of 6% to 7% as early as the financial year starting in April 2024, although it is possible that this will be more gradual, Oddo BHF adds.
Copyright (c) 2023 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.