Rémy Cointreau shares, among the best performers of the SBF 120, gain 3.5%
The cognac producer extends its rebound and climbs to the top of the Parisian index ranking. The movement follows two analyst upgrades published at the beginning of the week, in a market oriented upwards.
A share well above its moving averages after the past week
The Rémy Cointreau share gains 3.51% to €47.24 during trading, among the strongest advances of the SBF 120, which rises by 0.58%. Over the week, the gain reaches nearly 14%, and the price stands clearly above the 20-day moving average at €42.81 (gap of 10.35%) as well as the 200-day moving average at €41.99. The RSI at 62 leaves room before the overbought zone, while resistance at €49.02 is approaching: the share is less than 4% away from it. Pernod Ricard, the other sector share tracked here, gains 1.43% during trading and displays +8.59% over one month, against +12.1% for Rémy Cointreau.
Two analyst upgrades and a context of still-tight French interest rates
Invest Securities published on Monday a price target of €58 with a buy recommendation, representing potential upside of approximately 23% from the current price. CIC Market Solutions maintained its target at €43 with a hold recommendation, a level 9% below the current price. Analyst ratings are therefore divided on valuation.
The group had furthermore placed on October 1st €250 million in hybrid bonds at 6.75%, an operation intended to support its deleveraging. On the market side, the 10-year OAT at 4.86% according to the latest reading from the Banque de France, remains close to its highs since 2008, as lawmakers examine the 2027 budget.
