Pernod Ricard: Jefferies upgrades stock

(CercleFinance.com) - Jefferies has upgraded its rating on the Pernod Ricard share from "hold" to "buy," having increased its corresponding target price from 175 euros to 185 euros, with the broker seeing that it "is one of the few remaining change stories in bevs".


"Sustainable top-line growth is a key priority, but we see a shift toward profitable growth and believe current religion on margin will be extended beyond F21," the broker says.

Jefferies furthermore considers that the risk of customs duties in the US provides investors with an opportunity to invest in the share, saying that investors anticipating a tax of 25% should buy the share now.


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