Bernstein: US the “Relative Problem Child” for Pernod

Dear Client:    Bernstein recently upgraded its position on Pernod Ricard to outperform as the firm believes Pernod is capable of reaching the upper end of its guided organic sales growth of 4%-7%, according to a recent note.  A few fundamental growth drivers for the company include: the opportunity in China and India; improved performance in EMEA and LatAm regions; the recovery of duty free; and "great potential" for Jameson and other Irish whiskey brands in markets outside of the