Pernod Ricard: UBS lowers its target price

(CercleFinance.com) - UBS expects sales to remain weak.
The analyst confirms his neutral opinion on the value and lowers his target price to E118 (from E122).

'We expect Q2/H1 organic sales of -2.9/-4.3%, versus -0.2/-2.6% for consensus, and lower margins leading to H1 organic EBIT of -6.3% (versus -2.7%)' says UBS.

Pernod Ricard has confidently reiterated its medium-term ambitions, and forecasts a return to organic sales growth for its 2024-25 financial year, with a continued recovery in volumes, and the maintenance of its organic operating margin.

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