Remy Cointreau: Barclays raises target price

(CercleFinance.com) - On Friday Barclays raised its target price for Rémy Cointreau shares from 234 euros to 262 euros, in the wake of the "exceptional" performance posted by the spirits group over the past six months.


In H1 2021-22, the owner of the Rémy Martin brand's operating profit more than doubled in organic terms (+104.5%), a performance well above the group's own targets (+66%) and Barclays' forecasts (+83.8%).

Ahead of its 2030 targets, Rémy has already achieved an operating margin (Ebit) of 33% and is halfway to achieving its gross margin target of 72%, the broker added.


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