Pernod Ricard Price Target, Estimates Down as Berenberg Flags Sustained Key Market Weakness

06:24 AM EST, 12/19/2025 (MT Newswires) -- Berenberg slashed its price target and forecasts for Pernod Ricard (RI.PA), citing the spirits and wines company's continued top-line deterioration and weakness in key markets. The research firm on Thursday cut the buy-rated stock's price target to 99.1 euros from 114 euros, noting the sustained underlying consumer weakness in China, worsening market conditions in the US and currency headwinds. As such, analysts reduced their fiscal 2026 and 2027 earnings assumptions by 7.9% and 7.7, respectively. "On our forecasts, FY 2026E is projected to be the third consecutive year that the cash dividend is not comfortably covered by the free cash flow generated by the business. Over the past two years some assets have been disposed of (eg wine disposal) which has helped partly fund the dividend. However, the number of material non-core assets left is now more limited," the note said. Berenberg anticipates the company will "prudently decide" to decrease its dividend for fiscal 2026.