Lanson-BCC: Oddo BHF still a buyer, trims TP

(CercleFinance.com) - Oddo BHF reiterates its 'outperform' rating on Lanson-BCC shares, trimming its target price for them from E47 to E45, saying that it is still relatively cautious about 2024, due to the uncertain evolution of the champagne market.


However, the broker believes that Lanson-BCC's business should partly benefit from the upturn in volumes at Chanoine Frères and its continued value strategy (price increases are planned)'.

Despite this slowdown in H2, after a record year in 2022, analysts remain convinced that the premiumisation and range-tightening work already underway should help to improve the group's fundamentals, they add.


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