Remy Cointreau: Oddo BHF cuts target price
(CercleFinance.com) - While maintaining its "neutral" rating on the Rémy Cointreau stock, Oddo BHF has cut its target price from 110 euros to 95 euros, saying that it is adopting a cautious view of the cognac market following a seminar in November 2018.
The analyst says that after an acceleration in growth over the last two years, the market appears to be riskier in the near term and that its downturn would impact earnings growth of all spirits groups.
Although the analyst says that cognac remains an irreplaceable asset that guarantees a high valuation over the long term because of its scarcity and upscale nature, the broker is cautious about spirits in the near term.
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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 analyst says that after an acceleration in growth over the last two years, the market appears to be riskier in the near term and that its downturn would impact earnings growth of all spirits groups.
Although the analyst says that cognac remains an irreplaceable asset that guarantees a high valuation over the long term because of its scarcity and upscale nature, the broker is cautious about spirits in the near term.
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.