(CercleFinance.com) – The stock fell by almost 1.2% at the end of the day, penalized by Deutsche Bank’s analysis.
Deutsche Bank announced on Thursday that it had reduced its price target on Pernod Ricard from 140 to 135 euros in view of the publication, on April 25, of the spirits group’s 3rd quarter turnover.
The analyst – who has a ‘hold’ recommendation on the stock – says he expects organic growth of 2.7%, hampered by the difficulties encountered in the United States, China and Russia.
While he expects Pernod to confirm its objective of generally stable turnover, excluding currency and scope effects, for the entire financial year, the intermediary warns that the prospect of growth between 0% and 5% in current operating income (ROC) seems more in danger given the deterioration of the group’s main markets.
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