Pernod Ricard: stock loses fizz on analyst downgrade

(CercleFinance.com) - Pernod Ricard shares are one of the sharpest fallers in the CAC 40 on Monday, suffering from cautious comments from analysts at Bernstein, who said they were worried about the sector's stretched valuations.


At 2pm, the spirits group's share price was down by nearly 1%, while the Paris index was broadly stable.

In a note published in the morning, Bernstein analysts downgraded their rating on the stock from buy to neutral, believing that the sector's stocks are more than just integrating the scenario of a business recovery.

Bernstein believes that the rally in the spirits specialists - which are now trading at all-time highs on the stock market - has been excessive.

Bernstein analysts have also downgraded their ratings on Campari and Diageo to neutral, while they are now a seller of Rémy Cointreau shares.


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