Rémy Cointreau: Berenberg downgrades buy rating
(CercleFinance.com) - Berenberg has downgraded its buy rating on the share of the French spirits group Rémy Cointreau, now recommending investors "hold" it.
The broker maintains its target price of 132 euros, which is pretty much the share's current price, which has risen by 28% since the beginning of 2019.
According to the German broker, mass demonstrations in Hong Kong and recent customs tariffs against products from the European Union are leading to a degree of "volatility" for the sector.
In addition, Berenberg believes that "growth in cognac has cyclically slowed in mainland China," which is a key market for the group.
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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 broker maintains its target price of 132 euros, which is pretty much the share's current price, which has risen by 28% since the beginning of 2019.
According to the German broker, mass demonstrations in Hong Kong and recent customs tariffs against products from the European Union are leading to a degree of "volatility" for the sector.
In addition, Berenberg believes that "growth in cognac has cyclically slowed in mainland China," which is a key market for the group.
Copyright (c) 2019 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.