Rémy Cointreau: Barclays lowers target price
(CercleFinance.com) - Barclays maintains its "underweight" rating on Rémy Cointreau shares, reducing its target price for them from E128 to E111, stating that it does not see how the company can maintain its 2024 annual targets, ahead of its Q2 trading update.
"Our negative stance on Remy is largely due to our long-term concerns about the China market. However, worrying data from the US shows the problem is in the West in the near term," it also warns.
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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.
"Our negative stance on Remy is largely due to our long-term concerns about the China market. However, worrying data from the US shows the problem is in the West in the near term," it also warns.
Copyright (c) 2023 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.