Rémy Cointreau: Oddo BHF still a buyer, lowers TP

(CercleFinance.com) - Oddo BHF maintains its 'outperform' rating on Rémy Cointreau, but lowers its target price from E95 to E90, following a 6% reduction in EPS, taking into account a lower topline and a stronger EBIT margin deterioration.


To play the recovery in the spirits market, whether it comes from the US or China, investors are likely to favor stocks such as Diageo or Rémy Cointreau, as they are more exposed to these two markets than Campari and Pernod Ricard, the analyst points out.

Nevertheless, the timing of this recovery is still to be determined, which should continue to weigh on the share's performance in the near term, he warns, estimating that Q2 2024-25 sales will be down 11.3% in organic terms.


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