(Boursier.com) — Like his counterpart Remy Cointreau, Pernod Ricard is progressing significantly this Thursday in Paris, supported by a note from Deutsche Bank. The German broker upgraded its view on the spirits group to ‘hold’, saying it is now “generally fairly valued” after a period of underperformance. Pernod remains facing several headwinds, including spirits standardization in the United States and macroeconomic and regulatory uncertainty in China. But, longer term, it provides a combination of exposure to aged spirits and key growth markets. For now, there appears to be a compromise between a possible further decline in consensus and a valuation that appears to largely capture this risk. The objective has been raised from 135 to 140 euros.
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