Pernod Ricard: Barclays downgrades stock

(CercleFinance.com) - Barclays downgrades its recommendation on Pernod Ricard directly from "overweight" to "underweight", with a price target reduced from 241 to 168 euros, in a note on the group and its peer Rémy Cointreau, also downgraded to "underweight".


"China has benefited from the demographic dividend for the past 20 years, when the key consuming demographic of ages 25-45 peaked. That population cohort is now in decline, which, when coupled with slower economic growth, will likely lead to a slowdown in premium spirits".


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