Laurent-Perrier: Oddo BHF raises TP

(CercleFinance.com) - Oddo BHF maintains its 'neutral' opinion on Laurent-Perrier, while raising its target price for the shares from E130 to E140, following the champagne house's annual results, which raised its EPS forecast by 8%.


The champagne market remains depressed in terms of volumes (YTD), with further de-stocking, and analysts remain vigilant as to the evolution of volumes, particularly internationally, and margin growth after a record year, they acknowledge.

The broker nevertheless considers that Laurent-Perrier's valuation 'remains attractive', highlighting the stock's estimated 7% discount to the market, compared with an historical premium of 3%.


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