Pernod Ricard is down 2% in the wake of a downgrade by Oddo BHF from 'outperform' to 'neutral' with a price target reduced from 190 to 150 euros, in the wake of the analyst's lowering of its EPS forecast for 2023-24.

The catalysts we expected to support Pernod Ricard's share price performance, namely the recovery in the Group's key markets such as China and the United States, are not materializing", notes the research department.

According to Oddo BHG, the timeframe for the Group's growth recovery is regularly postponed, and uncertainties about its timing should weigh on the share's performance, for which it nevertheless sees little downside potential.

Copyright (c) 2024 All rights reserved.