BNP Paribas has raised its price target for Pernod Ricard following a strong third quarter. BNP Paribas yesterday increased its target to €94.2 ($108.2) from €90.6.

Paribas pointed to Pernod's 9.3% organic sales growth as explanation for the recommendation.

"Whereas after the first half doubts persisted about how much of this growth was owing to technical/destocking issues, there is little doubt that the 9.3 percent increase is a genuine underlying performance," the bank said in a research note.