Pernod Ricard: Oddo confirms rating after profit warning
(CercleFinance.com) - Pernod Ricard now expects underlying EBIT to fall by 20% in organic terms (against growth of 2%-to-4% in its guidelines provided in February).
The group says that it has no liquidity problems, with current credit lines of 3.4 billion euros, of which over 3 billion euros has not yet been drawn.
Oddo confirms its buy rating on the share, with a lower target price of 162 euros (against 180 euros).
Analysts believe that the share price's fall since the beginning of February (-16%) already includes part of the revisions in estimates that are expected following the spread of coronavirus to different markets.
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