Rémy Cointreau: UBS raises its target price.
(CercleFinance.com) - While maintaining its "neutral" rating on Rémy Cointreau, UBS has raised its target price for the share from 86 euros to 105 euros, pending wines and spirits trading update for its first quarter on 20 July.
Excluding extraordinary technical items, the broker expects organic sales growth of 9.5% for this period, "given strong underlying trends in cognac with a particularly easy comp in Asia."
"We believe that Rémy will reach the upper end of its target operating margin target of 21.5-22.5% in fiscal year 2020, after the strong rebound in dynamics in cognac in China," the broker adds.
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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.
Excluding extraordinary technical items, the broker expects organic sales growth of 9.5% for this period, "given strong underlying trends in cognac with a particularly easy comp in Asia."
"We believe that Rémy will reach the upper end of its target operating margin target of 21.5-22.5% in fiscal year 2020, after the strong rebound in dynamics in cognac in China," the broker adds.
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.