Pernod Ricard: Barclays cuts TP

(CercleFinance.com) - Barclays reiterates its 'Underweight' recommendation on Pernod Ricard shares, with a price target reduced from E118 to E107, after a difficult Q1 and before Q2, which 'won't be much better', according to the broker.


Pernod Ricard is going through a difficult period in China, as it is grappling with declining demographics, weakening consumption and customs duties, it summarises.

Also pointing to a US market where it is not doing much better, with a decline and falling market share, Barclays believes that together, this will make it difficult for the spirits group to achieve its FY targets.


Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.