Pernod Ricard: share price falls, broker lowers target

(CercleFinance.com) - Pernod Ricard is down nearly 1.
5% in Paris after Oddo BHF confirmed its 'neutral' rating on the stock, with a price target reduced from 125 to 120 euros.

The analyst reports that H1 24/25 results and conf-call comments have led to a revision of the group's 24/25 and medium-term targets.

Oddo BHF refers to 'a reassuringly constructive approach, which justifies Thursday's share price reaction (+3%) and could at least limit the derating, whose valuation is already very low (14x NTM PE)'.

'However, the latest results remain uninspiring and visibility is low', stresses Oddo BHF. We therefore believe that while the downside risk is limited, the prospects for share price appreciation remain weak in the short term', it adds.

In this context, the broker indicates that it has revised downwards its estimates for FY 24/25, FY 25/26 and the FY 27/28-28/29 period, which explains the reduction in its price target.


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