PERNOD RICARD : Jefferies confirms its Buy recommendation
The analyst sees 2024 as a bottom for earnings, given the peak of destocking and the difficulties associated with exiting Russia.
'Although Q1 2025 will be lacklustre, our estimate for full-year 2025 organic sales/EBIT +3%/+4% remains unchanged' says UBS.
The current share price does not take into account this slowdown in growth and the absence of obvious short-term catalysts, which offers an attractive entry point for long-term investors", adds the research firm.
Pernod Ricard remains confident in its medium-term ambition, which targets sales growth at the top end of a range between +4 and +7%, and an expansion of the operating margin on ordinary activities by +50 to +60 basis points.
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