Pernod Ricard: Liberum confirms its rating.

(CercleFinance.com) - The conference call organised by Pernod on the publication of its Q3 sales brought to light a slowdown of the American spirits market and the continued uncertainties in India, Liberum summarises.


In India, the uncertainty generated by demonetisation has been replaced by the ban on the sale of alcoholic beverages near major roads and the forthcoming introduction of the tax on goods and services.

In the US, quarterly growth of 8.1% was boosted by dispatches ahead of depletions, while the vodka market remains very competitive, with "crazy" promotions and special offers from certain brands, Liberum points out.

The broker therefore confirms its "hold" rating on the stock, along with its target price of 110 euros.


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