MS : Pernod will report its Q1 16 IMS on 22 October. We expect +0.5% organic sales growth in Q1, below company collected consensus of +1.1%. We expect management to remain cautious on its FY16 EBIT guidance (MSe +2.7%). We remain Equal-weight.
Nomura : Consensus 1Q revenue and FY EPS now low; still see organic growth
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