Pernod Ricard Stock Leads CAC 40 Following Deutsche Bank Upgrade
The spirits group stock (Absolut, Jameson, Chivas Regal, Martell, Ricard) rebounds mid-morning, posting the best performance on the Paris index while the CAC 40 remains nearly flat. This recovery follows a revised opinion from Deutsche Bank and comes after a prolonged period of selling pressure.
Leading the CAC 40, the Stock Reclaims Ground Above Its 20-Day Moving Average After a Difficult Month
Pernod Ricard gains 1.5% to €60.90 during the session, topping the CAC 40 while the index declines 0.09%. This rebound pushes the stock above its 20-day moving average (€60.38), a threshold it had lost sight of for several weeks. The RSI at 42 remains in neutral territory, showing no technical excesses in either direction, leaving room for the move to develop.
However, the gain remains modest over the week (+0.43%), and the stock is still down 3.64% for the month and 6.13% for the quarter. The 50-day moving average at €64.46 weighs above the current price with a gap of 5.52%, representing the next hurdle to overcome for momentum to establish itself durably. Rémy Cointreau, a comparable spirits stock, gains 3.05% during the session, outlining a sector-wide rebound context on Wednesday.
Deutsche Bank Raises Target to €63, Representing Potential Upside of Nearly 4% From Current Levels
Analyst opinion provides timely support for the stock: Deutsche Bank raised its price target yesterday from €61 to €63, while maintaining its "hold" rating. At €60.90, this represents a potential upside of nearly 4% compared to the current price. This upgrade comes against a still challenging backdrop for the group: when publishing FY 2026 annual results on August 27, 2026, management adopted a cautious tone, projecting organic revenue globally stable in an environment characterized as "contrasted and uncertain."
Over one year, the stock is still down 27.26%, a decline reflecting persistent difficulties for French spirits exporters, with cognac exports having fallen 10.9% in value over 2024. Resistance at €69 remains the next technical horizon, more than 13% above the current price.
