Remy Cointreau: Barclays raises target price
(CercleFinance.com) - On Friday Barclays raised its target price for Remy Cointreau shares to 175 euros (from 170 euros) ahead of the spirits group's H1 2021-2022 sales figures, which are due to be announced on 22 October.
In a research note, the British bank - which has an "equal weight" rating on the stock - said it expects the favourable currents that are enjoyed by the French group to continue.
"We expect a strong print with the company highlighting robust underlying trends in China and the US, with premiumisation trends continuing in both the on and off-trade." Barclays said.
Following these comments, Rémy Cointreau shares rose by about 0.4% on Friday, outperforming the SBF 120 index, which was down 0.4%.
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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.
In a research note, the British bank - which has an "equal weight" rating on the stock - said it expects the favourable currents that are enjoyed by the French group to continue.
"We expect a strong print with the company highlighting robust underlying trends in China and the US, with premiumisation trends continuing in both the on and off-trade." Barclays said.
Following these comments, Rémy Cointreau shares rose by about 0.4% on Friday, outperforming the SBF 120 index, which was down 0.4%.
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.