Remy Cointreau: Credit Suisse raises EBIT guidance

(CercleFinance.com) - Credit Suisse has raised its FY2022 organic EBIT growth guidance to 37% (from 25%), mainly to reflect stronger gross margin expansion.


"Our Our FY22/23/24 EPS goes up 19/13/11% after factoring in more favourable FX and lower tax rate, our TP up to E185 (from E162)," the broker said: however, it maintains its "underperform" rating on the stock.

"In Spirits, we prefer Diageo, as we think its US growth profile can continue to positively surprise".

After soaring yesterday, the share is currently down about 0.5%.



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