(CercleFinance.com) – Societe Generale on Friday raised its recommendation on Pernod Ricard shares from ‘hold’ to ‘buy’ with a price target set at 204 euros.
While he says he continues to show his preference for Diageo within the sector, the analyst is positive about the two spirits giants, who both want to continue to grow their margins in the years to come. are coming.
In the case of Pernod, this ambition translates into an objective of improving the operating margin of around 50-60 basis points per year over the period 2023-2025, he specifies.
In its memo, SG also stresses that the French group is not present in the ‘low price’ or even entry-level segment, but that it favors the high-growth ‘premium’ and ultra-premium, on which recessions usually only have a ‘temporary’ impact.
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