UK: Remy Cointreau rating initiated
Coverage of Remy Cointreau has been initiated by Citigroup Smith Barney. The US broker has initiated the shares with a 'buy' rating and a price target of €42.5.
Remy's "unique luxury portfolio" offers a 20% discount to its peers, Citigroup said, which it thinks is "unjustified." The new management team is capable of unlocking a €6 per share value in Remy's underperforming Champagne division, the broker added.
Citigroup also said that Remy offers double exposure to China, which is a market with 20% forecast growth.
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 ...
Goldman Sachs has initiated coverage of Remy Cointreau....
Remy Cointreau is looking to restructure its Champagne business, according to local reports....
Remy Cointreau has had its investor rating raised....
Remy Cointreau has posted a drop in full year net profit in spite of increasing revenues....
Remy Cointreau has signed a five-year credit facility for around €500m....
Remy Cointreau has gone to holders of one of its bonds to gain permission to complete the sale of its stake in Bols....
Remy Cointreau has posted a slight rise in revenue growth for fiscal year 2005....
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