Zacks Investment Research downgraded shares of Pernod Ricard (OTCMKTS:PDRDY) from a buy rating to a hold rating in a report published on Thursday morning.
According to Zacks, “Pernod Ricard SA, based in France, operates as a manufacturer and seller of a wide range of wines and spirits. The company operates as holding company, with the structure divided between brand owner subsidiaries, such as The Absolut Company, Havana Club International and Chivas Brothers, which produce and develop marketing strategies for the brands, and regional distribution subsidiaries, such as Pernod Ricard Europe, Pernod Ricard Americas and Pernod Ricard Asia, which implement marketing strategies and distribute local brands. The Company is active in eight principal beverage sectors: whiskies, aniseed spirits, liqueurs, cognacs and brandies, white spirits and rums, bitters, champagnes and wines. Pernod Ricard SA’s flagship brands include Ricard, Havana Club, Ballantine’s, Malibu, Martell, The Glenlivet, Chivas Regal, Jameson and Absolut Vodka, among others. “
A number of other research firms have also recently weighed in on PDRDY. JPMorgan Chase upgraded Pernod Ricard from an underweight rating to an overweight rating in a report on Tuesday, January 30th. Goldman Sachs cut Pernod Ricard from a buy rating to a neutral rating in a report on Sunday, March 18th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $37.00.
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About Pernod Ricard
Pernod Ricard SA produces and sells wines and spirits in Europe, the Americas, Asia, and internationally. The company offers liqueurs, sparkling wines, brandy, tequila, rum, vodka, bitters, gin, cognac, anise-based spirits, wine-based aperitifs, champagne, whisky, and ouzo. Its brand portfolio includes Absolut Vodka and Chivas Regal; Ballantines, Beefeater, Jameson, Kahlúa, Malibu, Ricard, and Havana Club; Martell Cognac, G.H.Mumm, The Glenlivet, Perrier-Jouët, and Royal Salute; and Brancott Estate, Graffigna, Campo Viejo, Jacob's Creek, and Kenwood.
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