UBS has reaffirmed its 'neutral' recommendation on Rémy Cointreau with a price target reduced from 100 to 93 euros, a new target that leaves 12% upside potential for the cognac and other spirits house's stock.

While the United States and China will remain weak in the first half, Rémy Cointreau has a plan to improve in the former and is outperforming in the latter", says the broker, who is "awaiting signs of an inflection".

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