Pernod-Ricard: Barclays initiages with 'Overweight'
(CercleFinance.com) - Barclays initiates its coverage of the Pernod-Ricard share with an "overweight" recommendation and a target price of 199 euros, as part of a sector report on European alcoholic beverage groups.
According to the broker, beverage stocks have historically driven high returns through their exposure to premiumisation and emerging markets, although recent regulatory and macroeconomic changes have shifted the market dynamics.
"Within the sector, we prefer spirits as the significant price ladder enables further premiumisation, as well as companies with exposure to China's emerging middle class," the broker continues.
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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.
According to the broker, beverage stocks have historically driven high returns through their exposure to premiumisation and emerging markets, although recent regulatory and macroeconomic changes have shifted the market dynamics.
"Within the sector, we prefer spirits as the significant price ladder enables further premiumisation, as well as companies with exposure to China's emerging middle class," the broker continues.
Copyright (c) 2019 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.