Rémy Cointreau: Credit Suisse raises TP, but still a seller

(CercleFinance.com) - With a recovery in the US and China in sight, Crédit Suisse has raised its EPS estimates for Rémy Cointreau shares by 10% for 2021-2023 to reflect the increase in the group's targets.


The broker points out that Rémy Cointreau "has built an impressive direct-to-consumer business in recent years, propelled by e-commerce (+32% in H1)" and that "its sell-in and sell-out trends in mainland China outperformed Hennessy".

While Crédit Suisse maintains its underperform rating on the share, it has raised its corresponding target price from 115 euro to 130 euros. At lunchtime on Wednesday the share is down just over 1% at about 152 euros.


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