(CercleFinance.com) – The TP ICAP Midcap teams are maintaining their buy recommendation on Rémy Cointreau shares on Monday, which they match with a target price of 245 euros.
While the spirits group has planned to publish its turnover for the 2021/2022 financial year on April 29, the stock market company says it expects annual revenue to grow by 26% organically, with a fourth quarter in decline of 10.3%.
Recalling that the French group is expecting very strong organic growth in its current operating profit (COI) over the past financial year, the investment bank specializing in small & mid caps believes that the containment situation in China nevertheless remains to be monitored, especially if it were to last beyond the fourth quarter (January-March 2022).
The intermediary nevertheless recalls that Rémy approaches its 2022-2023 financial year with serenity, while final demand remains well oriented and distributor stocks are low.
According to him, the group remains well positioned to outperform the expected growth of the spirits market in light of the composition of
its portfolio of brands, which should enable it to take advantage of the trend towards ‘premiumisation’ in the consumption of spirits
‘The group is an extremely qualitative expression of luxury in
midcaps’, concludes TP ICAP in a note released in the morning.
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