Robotaxi, ride-hail US boom is a boost for European spirits makers, Barclays says

Davide Campari Milano NV

11/12/2025 07:37

** An expected robotaxi and ride-hail boom in the U.S. may increase the largest global alcohol market by about $42 billions over the next decade, to the benefit of European spirits makers, Barclays says

** It upgrades Jameson Irish Whiskey, Absolut Vodka and Malibu rum maker Pernod Ricard PERP.PA to "overweight" from "equal-weight" and lifts price targets of peers Anheuser-Busch InBev ABI.BR, Campari CPRI.MI and Diageo DGE.L by 7%-9%

** "There is an established relationship between ride-hailing and alcohol consumption that is little known in the market," the brokerage says

** It cites a 2021 Journal of Health Economics study that showed a 5.4% increase in total alcoholic drinks consumption associated with UberX UBER.N ride-hailing use

** It says the U.S. exposure to the robotaxi market will dramatically accelerate the adoption of ride-hailing services there, but other countries will follow

** It sees a 39% upside to the Pernod Ricard stock, saying it is undervalued after a couple of years of underperformance, reduced exposure to China, more optimistic outlook in India and low expectations in the U.S.

** As of Wednesday's closing, Pernod Ricard shares have dropped 33% YTD

(Reporting by Alessandro Parodi)

((Alessandro.Parodi@thomsonreuters.com))