Pernod Ricard: Barclays still a seller

(CercleFinance.com) - On Friday, Barclays renewed its "underweight" rating on Pernod Ricard shares, along with its target price of E168, saying that it expects the spirits group's new fiscal year to get off to a difficult start.


"We expect near-term weakness in the US and China, in particular, to weigh on Pernod Ricard's 1Q24E results", the broker says.

In its comments, Barclays forecasts a 1.7% organic decline in sales for the company in Q1.

Pernod Ricard will publish its Q1 2023/2024 sales on 19 October.


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