UK: Remy Cointreau shares upgraded

By | 14 June 2004

Remy Cointreau's share recommendation has been upgraded. CAI Cheuvreux has upped the shares to 'outperform' from 'underperform' on valuation grounds, according to dealers.

The French broker said foreign exchange effects have been clearly outlined by the management and are now priced in.

It said the group's strategy remains focused and key brands look set to register good growth in Asia and the Americas.

CAI Cheuvreux has a €30 price target.

Last week, Remy Cointreau posted a sharp drop in net profit for its 2004 fiscal year of 25% year-on-year to €76.3m, and blamed the fall on adverse currency changes. The French company said that foreign exchange fluctuations hit earnings by €41.6m.

Sectors: Spirits, Wine

Companies: Cointreau

View next/previous articles

Currently reading -

UK: Remy Cointreau shares upgraded

There are currently no comments on this article

Be the first to comment on this article

Related articles

FRANCE: Remy Cointreau revamps Champagne

Remy Cointreau is looking to restructure its Champagne business, according to local reports.

UK: Remy Cointreau rating upgraded

Remy Cointreau has had its investor rating raised.

FRANCE: Remy Cointreau FY profits nosedive

Remy Cointreau has posted a drop in full year net profit in spite of increasing revenues.

just-drinks tagline

Not a member? Join here

Decrease font sizeDecrease font sizeDecrease font size Increase font sizeIncrease font sizeIncrease font size Comment on this article Email this to a friend Print this page