Pernod-Ricard: Bryan Garnier raises target price
(CercleFinance.com) - Bryan Garnier has confirmed its "buy" recommendation on the Pernod-Ricard share, raising its fair value from 130 euros to 145 euros, seeing a sharp recovery in the wines and spirits group's performance this year.
Based on sales growth in the upper single-digit range in China and India, the broker now expects organic sales growth of 5.6% in 2017-18, representing a significant improvement relative to 2016-17 (+3.6%).
Bryan Garnier deems that this acceleration should continue over the next few years, which is leading it to raise its EPS estimates by an average of 5% over the next five years (to 5.5% higher than the consensus for 2018- 19).
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
Based on sales growth in the upper single-digit range in China and India, the broker now expects organic sales growth of 5.6% in 2017-18, representing a significant improvement relative to 2016-17 (+3.6%).
Bryan Garnier deems that this acceleration should continue over the next few years, which is leading it to raise its EPS estimates by an average of 5% over the next five years (to 5.5% higher than the consensus for 2018- 19).
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.