Top of the Street: Remy Cointreau, Pernod Ricard, and Frontline

Frontline

21/03/2024 11:22

A round-up of notable broker activity this morning from Europe's
top-ranked* analysts:
    
    ** Deutsche Bank raises spirits maker Remy Cointreau
 RCOP.PA  to "buy" from "hold", expecting the destocking period
to end soon for the company, and pointing to recent industry
data suggesting Remy's y/y growth may begin to improve in the
coming months
    ** It also raises peer Pernod Ricard  PERP.PA  to "hold"
from "sell" as it now sees the shares broadly fairly valued post
underperformance and points to a risk/reward from here as
broadly evenly balanced
    ** Jefferies ups oil tanker firm Frontline  FRO.OL  to "buy"
from "hold" as it sees the oil market shifting favorably and
expects shareholders to benefit from the company's unofficial
dividend payout ratio of 80% of quarterly earnings
    
        
(*Analyst rankings from Thomson Reuters StarMine. The scale is
from 1-star to 5-star with 5 being the best. Analysts are ranked
on earnings accuracy as well as relative performance of
recommendations over trailing 12-month & 24-month periods.)


 (Reporting by Clement Martinot and Anastasiia Kozlova)
 ((Clement.martinot@tr.com))