Rémy Cointreau: Barclays downgrades stock
(CercleFinance.com) - On Tuesday Barclays downgraded its rating on the Rémy Cointreau share from "overweight" to "equal weight", while nudging up its corresponding target price from 169 to 173 euros (current price: 161 euros, +1%).
In a research note, the British broker acknowledges that the French group is one of the best-positioned players in the spirits market with its high-end margins that are well oriented towards high-growth segments such as China and the United States, although it believes that the stock is fairly priced at its current levels.
"However, in the near term, consensus has caught up with our forecasts and the shares have now risen to such a premium that we believe there is greater value elsewhere in the sector, particularly in Diageo and Pernod Ricard," it justifies in its report.
Copyright (c) 2021 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.
In a research note, the British broker acknowledges that the French group is one of the best-positioned players in the spirits market with its high-end margins that are well oriented towards high-growth segments such as China and the United States, although it believes that the stock is fairly priced at its current levels.
"However, in the near term, consensus has caught up with our forecasts and the shares have now risen to such a premium that we believe there is greater value elsewhere in the sector, particularly in Diageo and Pernod Ricard," it justifies in its report.
Copyright (c) 2021 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.