Rémy Cointreau: Morgan Stanley starts with 'weight in line'
(CercleFinance.com) - Morgan Stanley has begun to cover the Rémy Cointreau stock, with a "weight in line" rating and a target price of 120 euros, believing that its “Superior growth perfectly (is) priced” into the share.
As “One of the fastest growing Spirits companies, Remy Cointreau benefits from unique positioning in premium Cognac and buoyant demand from the US and China,” the broker notes.
Nevertheless, although it believes that a " Margin opportunity remains," the broker considers that " valuation versus peers in Beverages and Luxury looks demanding," which brings it to adopt a neutral rating on the share.
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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.
As “One of the fastest growing Spirits companies, Remy Cointreau benefits from unique positioning in premium Cognac and buoyant demand from the US and China,” the broker notes.
Nevertheless, although it believes that a " Margin opportunity remains," the broker considers that " valuation versus peers in Beverages and Luxury looks demanding," which brings it to adopt a neutral rating on the share.
Copyright (c) 2018 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.