(News Bulletin 247) – Oddo confirms its outperformance rating on Pernod Ricard shares, with an unchanged target price of 217 euros.
The analysis office recalls that the stock has posted a good performance with +13% since the start of the year and +17% over 6 months.
Oddo nevertheless believes that 3rd quarter revenue should show an organic decline, ‘but this should not penalize the stock in view of the comparison base effects and especially a rebound in the 4th quarter which bodes well for a dynamic year in terms of organic growth in sales and current EBIT’.
Thus, the analyst anticipates Q3 sales of 2,498 ME, down 3% on an organic basis (the consensus is at 2,502 ME).
‘In Q4, we anticipate a rebound in organic revenue growth to +14%, which should bring the year to +8.7% (consensus at +9.3%)’, specifies Oddo.
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