(News Bulletin 247) – Stifel maintains its ‘hold’ rating on the Pernod Ricard share, with a price target raised from 200 to 210 euros.
The analyst firm reports that Pernod Ricard’s sales came out 400 bps above expectations in the 2nd quarter of fiscal year 2023, with organic sales up +12% when the consensus was for + 8%, driven by rising prices.
In addition, in the United States, Pernod Ricard’s sales accelerated by 5% in 1H23 after +2% in 1Q23, driven by pricing.
In this context, the analyst increases his earnings estimates for Pernod Ricard by around 3 to 4%.
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