Jefferies reaffirms its 'buy' recommendation on Rémy Cointreau, while lowering its target price from 130 to 120 euros, in the wake of a reduction in its organic sales and EBIT estimates for the French spirits group's 2025 fiscal year.

Despite still low visibility on the timing of the recovery, the broker considers Rémy to be one of the most attractive long-term growth stories in European beverages, given high barriers to entry and premiumization trends.

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