Rémy Cointreau: Oddo BHF raises target price
(CercleFinance.com) - Oddo BHF maintains its "underperform" rating on Rémy Cointreau shares, while raising its target price for them from E105 to E134, following the inclusion of the wine and spirits group's 2030 plan and updated market data.
However, the broker points to the relatively weak reaction to the announcement of the group's 2023/24 guidance and the potential for further downward revisions to the consensus (up to -5% in its view), following the publication of its annual results on 1 June.
Analysts are confident over the long term, although much less so about momentum over the next 12 months. Indeed, they say that ongoing normalisation could be more negative than anticipated.
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