(News Bulletin 247) – JPMorgan on Monday downgraded its recommendation on the Pernod-Ricard stock, reduced from ‘overweight’ to ‘neutral’ due to fears of a slowdown in the American spirits market.
The research department recalls that the title of the French group has performed well recently – thanks to the solidity of its prices – but believes that these good performances could not resist possible disappointments on the side of the United States.
JPMorgan recalls that Pernod Ricard has underperformed the American market since 2020, a phenomenon which does not seem to have improved in recent months, according to him.
However, its share price has risen by 13% since the start of the year, doing much better than the sector in Europe (+4%), but also than Diageo (-1%), underlines the analyst, who decides consequently to place the stock on negative watch with a view to the publication of the turnover for the third quarter, scheduled for the end of April.
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