Rémy Cointreau: UBS still a buyer after LVMH update
(CercleFinance.com) - UBS reiterates its "buy" rating on Rémy Cointreau shares, along with its target price of E179, which represents 59% upside potential for the French wine and spirits house's stock.
"Weaker trends in LVMH's Cognac & Spirits reaffirm our expectation of >35% sales decline in the US for Remy Cointreau cognac business", the broker says, however.
Nevertheless, UBS remains positive on Rémy Cointreau, summarising that "Long-term opportunity outweights near-term risks".
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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.
"Weaker trends in LVMH's Cognac & Spirits reaffirm our expectation of >35% sales decline in the US for Remy Cointreau cognac business", the broker says, however.
Nevertheless, UBS remains positive on Rémy Cointreau, summarising that "Long-term opportunity outweights near-term risks".
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.