Campari: Bryan Garnier still a buyer; ups target price.

(CercleFinance.com) - Bryan Garnier has reinstated its "buy" rating on Campari, increasing its fair value for the stock from 6.
6 euros to 7.3 euros, in light of a stronger-than-expected improvement in the group's operating margin than and lower net debt.

"Campari continues to combine one of the best organic sales growth, EBIT margin improvement and portfolio management opportunities in the sector," the broker believes.

The broker highlights the Italian group's organic sales growth of 5.1% in Q3, as well as a positive surprise in terms of operating profit, which reached 93.9 million euros, outperforming the consensus of 89 million euros.


Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.