On Friday, Berenberg raised its target price for Tonnellerie François Frères from €53 to €55, representing potential upside of around 25% from current levels.

The German broker - who has a buy recommendation on the specialist in wine and whisky barrels - is confident in the business of the group, which will publish its half-year results on January 9.

Prices remain solid across all business lines, while wine volumes are supported by a successful harvest season in the Group's main regions (despite disappointing harvests worldwide)', Berenberg points out.

According to analysts, this momentum should enable the Group to improve its profit margins over the 2023/2024 financial year, despite the normalization of demand and the destocking trend that has affected the sector in recent months.

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