Rémy Cointreau: Barclays reduces target price

(CercleFinance.com) - Barclays maintains its 'Underweight' recommendation on Rémy Cointreau shares, while reducing its target price for them from E68 to E56, following confirmation that customs duties on cognac will be implemented in China from 11 October.


This announcement has led the broker to update its outlook for the wine and spirits group: it now expects lower sales and no margin expansion in China over the medium term.

Also anticipating a 10% decline in cognac sales in the US over the next two years, Barclays' new forecasts for Rémy Cointreau are 15%-20% below consensus from FY 2025 onwards.


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