Rémy Cointreau: Oddo BHF still neutral after interim results
(CercleFinance.com) - An analyst at Oddo BHF today announces that he is maintaining a neutral rating on the Rémy Cointreau stock, considering H1 results that are "in line," with a "confirmed acceleration in H2".
Oddo BHF says that this acceleration in operating profit growth in H2 seems (...) already anticipated by the market. The improvement of the annual guidance for forex is good news (...), but it is partly offset by the deterioration in the financial result related to the negative impact of the early repayment of the loan to the EPI group on the sale of the champagne division (...). The 30% growth in cognac sales in China in H1 is exceptional, although it is more realistic to expect more moderate trend next year (low double-digit growth).
The broker has also set a target price of 110 euros for the share, suggesting upside potential of 6%.
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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.
Oddo BHF says that this acceleration in operating profit growth in H2 seems (...) already anticipated by the market. The improvement of the annual guidance for forex is good news (...), but it is partly offset by the deterioration in the financial result related to the negative impact of the early repayment of the loan to the EPI group on the sale of the champagne division (...). The 30% growth in cognac sales in China in H1 is exceptional, although it is more realistic to expect more moderate trend next year (low double-digit growth).
The broker has also set a target price of 110 euros for the share, suggesting upside potential of 6%.
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.