Campari: Oddo BHF downgrades stock
(CercleFinance.com) - In its comments on spirits stocks, Oddo BHF downgrades Campari shares from "neutral" to "underperform", despite raising its target price for them from E8.
1 to E11.2 (cp: E11, -2.6%), judging that its resilience has been preserved and that it should therefore benefit less from a rebound in the sector.
Pointing out that the spirits sector has been under heavy attack since the end of August, the broker sees an opportunity to return to quality stocks positioned in a growth sector that has attractive fundamentals.
Oddo BHF prefers quality stocks such as Diageo and Pernod Ricard, especially the latter, and upgrades Rémy Cointreau to "outperform", believing that its strong derating offers a unique near-term opportunity.
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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.
1 to E11.2 (cp: E11, -2.6%), judging that its resilience has been preserved and that it should therefore benefit less from a rebound in the sector.
Pointing out that the spirits sector has been under heavy attack since the end of August, the broker sees an opportunity to return to quality stocks positioned in a growth sector that has attractive fundamentals.
Oddo BHF prefers quality stocks such as Diageo and Pernod Ricard, especially the latter, and upgrades Rémy Cointreau to "outperform", believing that its strong derating offers a unique near-term opportunity.
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.