While maintaining its 'neutral' recommendation on Pernod Ricard, UBS has reduced its price target from €158 to €153, a new target that leaves 8% upside potential for the spirits giant's stock.

Pernod Ricard is grappling with weak trends in the US and China, leading to downwardly revised estimates for fiscal 2025", says the broker the day after the trading update.

According to the broker, the French group's share is valued at a discount to its peers, but will need an inflexion from the US and China to see an upturn.

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