Rémy Cointreau shares, SBF 120 laggard, decline nearly 6% despite sales growth
The cognac producer opens the ball of poor performances on the Paris index, following an unfavorable analyst opinion. The publication of its half-year sales this morning is not enough to hold back sellers, as Bernstein and TP Icap Midcap have released their views.
Half-year sales up, driven by cognac but held back by liqueurs
Rémy Cointreau published this morning revenue of €510.9 million for the first half of its 2026-27 fiscal year, up 2.9% organically and 4.4% on a reported basis.
The second quarter accelerates at +4.2%, compared to +1.3% in the first quarter, thanks to cognac (+12.4% over the quarter), while liqueurs and spirits decline by 7.4%.
The group confirms its annual targets and reduces to approximately €5 million the expected impact of tariffs on its operating income.
The share nonetheless loses 5.88% to €47.72, making it the biggest faller in the SBF 120 late this morning, while the index is virtually stable. Pernod Ricard, another sector name, declines 1.39% over the same session.
A rally of nearly 11% over one month that the session begins without erasing
Today's decline comes after a month of recovery: the share still shows 10.57% gains over the past thirty days, and remains above its three moving averages. The gap is 1.9% with the 20-day MA at €46.82, 5.6% with the 50-day MA at €45.20.
On the analyst side, Bernstein published yesterday a target of €53 with a market perform rating, which is 11% above the current price, while TP Icap Midcap initiated today a sell rating with a target of €39, approximately 18% below.
Furthermore, declared net short positions represent 4.66% of capital, distributed among five funds, up 0.20 points over thirty days: a high level, showing that part of the market remains positioned against the stock without being able to infer its motivations. The 20-day MA at €46.82 is the level closest to the current price.
