Pernod Ricard has been given a 'Neutral' rating by UBS, with a target price of 138 euros, based on the company's recent business figures.
The decline in sales, excluding acquisitions and takeovers, was more significant than expected, according to analyst Sanjeet Aujla.
The report highlights ongoing challenges for the spirits manufacturer, particularly in the Asian market, which has resulted in lowered expectations for the company in recent times.