FRANCE: Merrill Lynch raises rating on Pernod
"The ability to maintain full-year forecasts gives strong EPS (earnings per share) visibility in an uncertain market," Merrill Lynch said. Analysts at Merrill Lynch added that the integration of the Seagram business had been completed more effectively than they anticipated. But they voiced some concern as to whether Pernod Ricard would be able to revitalise some of the Seagram brands, as well as concerns over the prospects for growth in France and Pernod Ricard's competitive position in the US.
Yesterday, ABN Amro raised its recommendation on Pernod Ricard from "reduce" to "buy".
Pernod Ricard posted a 63% rise in first half operating profits this week to €296m.
Companies: Pernod Ricard
As Pernod Ricard, Allied Domecq and Fortune Brands close in on the biggest drinks industry deal since the sale of Seagram, opinion about how the deal will be structured and who stands to win and lose ...
Maxxium Worldwide could come under pressure if Pernod and Fortune's Allied Domecq bid is successful, according to press reports today (14 April)....
It's been a quiet day on the Pernod/Allied Domecq front....
Conflicting reports circulated this weekend over whether Bacardi International is looking to form a counter-bid for Allied Domecq....
Todays press reports into Pernod and Fortune's hopes to buy Allied Domecq warn of possible conflicts and set a date for completion....
Pernod Ricard and Fortune Brands are considering a US$13 billion bid for Allied Domecq, the world's second-largest spirits company. Were it to take place, Pernod and Fortune would split Allied's brand...
Pernod Ricard and Fortune Brands are hoping to buy Allied Domecq for around 670p per share, according to press reports....
The US consumer goods group Fortune Brands has confirmed it is in talks about launching a joint bid with Pernod Ricard for Allied Domecq....
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