Rémy Cointreau: Stifel lowers its target price

(CercleFinance.com) - Stifel maintains its 'hold' recommendation on Rémy Cointreau shares, with a target price cut from E110 to E105, after cutting its 2025-26 earnings estimates by an average of 5% for the spirits house.


"The cognac rebound in 4Q24, +15% (cons. flat, SFe: +8%) driven by a technicality in China does not change the big picture of the still very challenging category", the broker says, which prefers to steer clear until there is more evidence of stabilisation in cognac.

"Management did not yet commit to an FY25 guide (6 June earnings report) but initial remarks were negative as the US cognac market is expected to rebound in 2H25 (Oct 24-Mar 25) at best", it underlines.


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