Pernod-Ricard: Bryan Garnier raises its target price.

(CercleFinance.com) - Bryan Garnier is confirming its buy rating on Pernod-Ricard, raising its target price on the stock from 117 euros to 123 euros, after the wine and spirits giant published Q3 sales that exceeded the consensus.


The broker underlines that organic growth in the Americas reached 8%, thanks to double-digit growth in Latin America, solid performance in the US, and 7% growth in Europe, driven by performance in Eastern Europe and particularly Russia.

Based on this publication, supported by both FX factors and a better operational performance, the broker has increased its EBIT estimates by an average of 3% over the next three years.


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