Remy Cointreau: UBS still a buyer after trading update

(CercleFinance.com) - UBS reinstates its "buy" rating on Rémy Cointreau shares, also maintaining its target price at 195 euros for them, implying upside potential of 16%, after the French spirits company's trading update at the end of last week.


In its report, analysts point out that the group just beat expectations in terms of organic sales (-6.0% against a consensus of -6.7%), although that this was overshadowed by three to five months of inventories at the end of December and normalisation in the US.

"Remy Cointreau looks well placed to deliver best-in-class sales and EBIT growth in 2023 and beyond," the broker nevertheless believes, and therefore wonders whether short-term concerns are "overdone".


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