Pernod Ricard: Credit Suisse's sales forecasts
(CercleFinance.com) - Credit Suisse expects Q2 and FY organic sales growth of +9.
2% and +10.1% respectively (above the Visible Alpha consensus of +7.5%/+9.1%), supported by solid pricing, resilient trends in Europe and the reopening of some Asian regions, which have offset disappointing trends in the US and China.
In the Americas (CSe +6.4% organic sales in Q2), Credit Suisse expects +5% growth in the US. In Asia and the rest of the world (CSe Q2 +13.7%), the analyst targets single-digit growth in China. However, analysts say that this is offset by continued strong growth in India, Africa/Middle East.
Note that Credit Suisse recently upgraded its rating on the stock to Outperform, with a target price of 230 euros.
Analysts maintain their FY 2023 organic revenue and EBIT growth estimates of +8.9% and +9.4% respectively, which are better than the consensus of +7.4%/+7.5%. Their EPS estimate is +4% versus consensus.
No cheers this lunchtime though, with the share currently down over 0.5%, not quite keeping up with the slightly negative market in Paris.
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