Pernod Ricard (RI)

Index:

CAC 40

  106.65
   
  • Change Today:
     -1.10
  • 52 Week High:  168.30
  • 52 Week Low:  106.10
  • Currency: Euro
  • Shares Issued: 256.05m
  • Volume: 449,688
  • Market Cap:  27,308m
  • Beta: 1.03

Citi trims target price on Diageo

By Abigail Townsend

Date: Tuesday 06 Jun 2023

LONDON (ShareCast) - (Sharecast News) - Citi has cut its price target for drinks giant Diageo on weaker US trading.
In a note published on Tuesday, the bank said Diageo's "more downbeat outlook" for its US spirits business had prompted it to trim its forecasts for American organic sales growth for both the second half and the 2024 full-year.

It continued: "Citi's full-year 2024 earnings per share [forecast] is now 3% below consensus.

"Although we expect weaker US trading trends to also impact others, the quantum will be less. Post these changes, Diageo is trading on a discount to Pernod Ricard. Although this is below long-term averages, it is tough to see catalysts for a re-rating ahead of the August 2023 full-year results."

It has therefore cut its target price for the blue chip to 3,600p, from 3,800p, and reiterated its preference for European rivals Campari Group and Remy Cointreau.

As at 1345 BST, shares in Diageo were ahead 1% at 3,360p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Pernod Ricard Market Data

Currency Euro
Share Price   106.65
Change Today   -1.10
% Change -1.02 %
52 Week High  168.30
52 Week Low  106.10
Volume 449,688
Shares Issued 256.05m
Market Cap  27,308m
Beta 1.03

What The Brokers Say

Strong Buy 5
Buy 1
Neutral 11
Sell 2
Strong Sell 1
Total 20
neutral
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Trades for 21-Nov-2024

Time Volume / Share Price
17:35 2,226 @  106.65
17:35 1,950 @  106.65
17:35 435 @  106.65
17:35 1,511 @  106.65
17:35 265 @  106.65

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