Rémy Cointreau: Stifel lowers target price
(CercleFinance.com) - While acknowledging that the share "looks tempting" at around 65% below its December 2021 high of E215, Stifel maintains its "hold" recommendation on Rémy Cointreau, with a target price trimmed from E105 to E102.
"believe US value depletion trends remained negative, with China unlikely to be a strong sustainable offset", the broker warns, which deems it "too early to call a trough".
More broadly within the European spirits sector, Stifel still prefers Italy's Campari, as well as, among the largest caps, the UK's Diageo over France's Pernod Ricard.
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