Pernod Ricard Shares Bounce Nearly 3%, Driven by Rémy Cointreau

The Stock Reconnects with Its Short-Term Moving Averages After a Weekly Decline

Pernod Ricard shares are up 2.9% at €63.78, in a session where the CAC 40 is down 0.19%. This movement brings the stock in contact with its MM20 (€63.75) and MM50 (€63.51), after another negative week (-4.44%). The MM200, at €73.72, remains 13.48% above the current price, highlighting the underlying negative trend, with a nearly 29% decline over the year.

The RSI at 50 provides no directional indication, while the MACD remains slightly negative. Today's progress, aligned with that of Rémy Cointreau (+2.93%), occurs in a still challenging sector context: cognac exports fell by 10.9% in value according to the FEVS for the 2024 report, and spirits overall by 6.5%.

BNP Paribas Exane Adjusts Its Target, High Short Positions Remain in the Capital

BNP Paribas Exane has raised its price target to €62.50 from €61.00 previously, while maintaining an Underperform rating dated July 1st. The new target remains below the current price, indicating a potential downside of about 2% compared to the session's €63.78. Concurrently, net short positions declared reach 3.05% of the capital, distributed among four funds, according to reviewed declarations.

The total has slightly decreased (-0.23 point over thirty days), after having reached 3.28%. At this level, institutional selling pressure remains significant: it reflects ongoing bearish bets on the stock, without this decrease indicating a marked covering movement at this stage. The analysts' position and the dynamics of these short positions are two points to watch in the coming sessions, as the stock currently struggles with its short-term moving averages.