(CercleFinance.com) – Oddo maintains its ‘outperformance’ rating for Laurent-Perrier shares with a price target raised from 125 to 130 euros.
The analysis office highlights market share gains with volumes up 12.4% including 18.5% for the Laurent-Perrier brand, compared to a market at +3.5%.
For the second half, the company expects a drop in volumes of around 10%, which is stable over the year, reports Oddo.
In this context, the broker is slightly adjusting its sales forecasts by 2% for the current financial year and the next.
‘However, we are raising our EPS forecasts by 14% for 2022/23 and 11% for 2023/24, in particular after raising the operating margin to 26.8% vs 24.6% in 2022/23 and taking into account a corporate tax rate less raised to 26.5% vs 27.8%’, he concludes.
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