Goldman Sachs has initiated coverage of Remy Cointreau. The broker has started its rating of the French group at 'in-line' with a fair value of €39.5.
In a note to clients, Goldman Sachs said that Remy Cointreau's flagship Cognac brand is particularly attractive, with strong exposure to the higher growth and margin markets of the US and Asia. The broker added, however, that it feels the stock's premium valuation to its peers discounts the above-average organic EBITA growth near-term.