Pernod Ricard: Oddo confirms rating after profit warning
(CercleFinance.com) - Pernod Ricard now expects underlying EBIT to fall by 20% in organic terms (against growth of 2%-to-4% in its guidelines provided in February).
The group says that it has no liquidity problems, with current credit lines of 3.4 billion euros, of which over 3 billion euros has not yet been drawn.
Oddo confirms its buy rating on the share, with a lower target price of 162 euros (against 180 euros).
Analysts believe that the share price's fall since the beginning of February (-16%) already includes part of the revisions in estimates that are expected following the spread of coronavirus to different markets.
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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.
The group says that it has no liquidity problems, with current credit lines of 3.4 billion euros, of which over 3 billion euros has not yet been drawn.
Oddo confirms its buy rating on the share, with a lower target price of 162 euros (against 180 euros).
Analysts believe that the share price's fall since the beginning of February (-16%) already includes part of the revisions in estimates that are expected following the spread of coronavirus to different markets.
Copyright (c) 2020 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.