UBS confirms its neutral recommendation on the stock, with a price target of E163, representing 3% upside potential.

The analyst believes that "weakness in the US and China is weighing on equities".

' The lower-than-expected guidance for fiscal 2024 has been well received, but Pernod's share price performance hinges on improved competitiveness in the US and an improving macroeconomic situation in China ' says UBS.

For the 2023-24 financial year, Pernod Ricard is targeting broadly stable sales, excluding currency and scope effects, and organic growth in current operating margin, with 'low single digit' organic growth in ROC.

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