(News Bulletin 247) – Oddo BHF maintains its outperformance rating on Pernod Ricard shares with an unchanged target price of 217 euros.
The broker estimates that yesterday’s market reaction (-6%) to the announcement of the results can be explained in particular by the publication of a current diluted EPS which came out 4% below expectations as well as by a potential adjustment of -2% on EPS24 growth rate.
‘We therefore do not see any specific sanction behind this market reaction, even if some could see it as a reaction to a lack of visibility’, indicates the broker.
While Oddo BHF considers that the start of the year does not seem promising, it continues to believe that the fundamentals of the sector and the group remain buoyant in terms of profitable growth.
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