Pernod Ricard has had its price target raised. Credit Suisse First Boston said today that it had upped it target for shares in the French drinks company to €98 (US$123.16).

Credit Suisse also raised its estimate on Pernod's 2004 and 2005 earnings-per-share by 4%. The bank believes that spirits will lead the growth for beverages in Europe this year.

Last month, Pernod Ricard's board of directors agreed an interim dividend of € 0.90 per share with a € 0.45 tax credit for retail investors. This dividend was paid on Tuesday of this week (13 January).