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Campari: Bryan Garnier still a buyer; ups target price.

(CercleFinance.com) - Bryan Garnier has reinstated its "buy" rating on Campari, increasing its fair value for the stock from 6.
6 euros to 7.3 euros, in light of a stronger-than-expected improvement in the group's operating margin than and lower net debt.

"Campari continues to combine one of the best organic sales growth, EBIT margin improvement and portfolio management opportunities in the sector," the broker believes.

The broker highlights the Italian group's organic sales growth of 5.1% in Q3, as well as a positive surprise in terms of operating profit, which reached 93.9 million euros, outperforming the consensus of 89 million euros.


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