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Pernod-Ricard: Bryan Garnier raises target price.

(CercleFinance.com) - Bryan Garnier (BG) maintains its "buy" recommendation on Pernod-Ricard and has raised its fair value from 123 euros to 130 euros, following a 4% increase in its EPS estimates over the next three years.


The broker now expects organic sales growth of 5.1% in 2017-18 (compared with 4.2% previously) and believes that the underlying dynamics of the wines and spirits group is clearly accelerating towards 4-5%.

However, BG says "Note that Q2 should slow down due to the later timing of the Chinese New Year and the impact of the hurricanes and earthquake in Latin America."


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