Pernod Ricard: Bernstein upgrades stock
(CercleFinance.com) - On Friday Bernstein upgraded its rating on Pernod Ricard shares from "market perform" to "outperform", mainly because it believes that the stock is undervalued.
In a study of the European alcoholic beverages sector, the broker points out that the French spirits group's share price has fallen 16% this year, while its earnings outlook has improved by more than 6% at the same time (expected EPS growth of 12%).
Bernstein also points out that the stock is currently trading at a "record" discount of between 10% and 15% relative to the world's leader in spirits, i.e. Diageo.
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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.
In a study of the European alcoholic beverages sector, the broker points out that the French spirits group's share price has fallen 16% this year, while its earnings outlook has improved by more than 6% at the same time (expected EPS growth of 12%).
Bernstein also points out that the stock is currently trading at a "record" discount of between 10% and 15% relative to the world's leader in spirits, i.e. Diageo.
Copyright (c) 2022 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.