Remy Headed for a Bright Future

Dear Client: Remy Cointreau stands to greatly benefit from a "sustainable recovery" in the US cognac business, said Redburn analyst Chris Pitcher as he upgraded the company to "buy." True, the downturn "hit Cognac consumption hard," but he believes "underlying demand for Cognac is well established in the US." Other good news: restocking has taken place, while on-premise consumption and employment levels are turning around. While we're not yet out of the woods, "Remy, with its focus on premium and