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Pernod Ricard's rating has been upgraded. Merrill Lynch today stepped up its view on the French drinks company to "neutral" from "sell", according to dealers.

No further details about the move were immediately available.

Pernod Ricard announced yesterday that its consolidated sales for the first quarter fell to €726m, compared to €740m for the same period last year, as the group continued to disengage itself from non-strategic activities, and was hit by the weak dollar.


Sectors: Spirits, Wine

Companies: Pernod Ricard

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