Laurent Perrier: Oddo raises target price.
(CercleFinance.com) - Oddo prefers to maintain its neutral rating on the Laurent Perrier stock, pending more clarity on the market's future developments in terms of volume.
Meanwhile, it has raised its target price from 73 euros to 77 euros.
Laurent-Perrier reported FY 2016-17 net attributable profit of 23.2 million euros, down 7.9%, with an operating margin of 19.0% excluding FX factors, against 18.2% last year.
Oddo said in its daily research report that the group's 2016/17 annual results were in line with its expectations, having been affected by a fall in volumes and the depreciation of the pound sterling.
It added that the Laurent Perrier brand is maintaining its market share in a bearish market. The proportion of upmarket products in Laurent Perrier's sales now reaches 39.9%, up 40 bp.
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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.
Meanwhile, it has raised its target price from 73 euros to 77 euros.
Laurent-Perrier reported FY 2016-17 net attributable profit of 23.2 million euros, down 7.9%, with an operating margin of 19.0% excluding FX factors, against 18.2% last year.
Oddo said in its daily research report that the group's 2016/17 annual results were in line with its expectations, having been affected by a fall in volumes and the depreciation of the pound sterling.
It added that the Laurent Perrier brand is maintaining its market share in a bearish market. The proportion of upmarket products in Laurent Perrier's sales now reaches 39.9%, up 40 bp.
Copyright (c) 2017 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.