Rémy Cointreau: Bryan Garnier upgrades stock

(CercleFinance.com) - Bryan Garnier has upgraded its rating on the Rémy Cointreau stock from "neutral" to "buy" and has raised its fair value from 124 euros to 127 euros, believing that the share's recent fall (-13.
7% over the past month) presents a buy opportunity for investors.

It believes that Rémy Cointreau will see another acceleration of organic sales growth in 2018-19 (+7.9%, after +7.2% in 2017-18), as a result of continued double-digit growth in cognac and a strong improvement in liqueurs and spirits.

In addition, Bryan Garnier considers that the group's target for a 2019-20 (organic) operating margin is too cautious: while the group expects growth of 240-300 basis points, Bryan Garnier expects it to improve by 350 basis points.


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