Too Soon to Say European Spirits Have Hit Bottom -- Market Talk

Dow Jones01-27

1529 GMT - Resurgent optimism toward European spirit stocks is premature, J.P. Morgan analyst Celine Pannuti writes. Sprit makers still need to clear built-up inventories, while companies might have to lower prices in order to lure consumers back to spirit products, the analyst says. Those factors, paired with the investment needed to build out competitive advantages in ready-to-drink products, will weigh on earnings over the next two fiscal years, Pannuti writes. Spirit stocks remain unattractively priced, she adds. A clutch of European spirit stocks fall over 2%: Remy Cointreau tumbles 3%, while Davide Campari-Milano falls 2.75%. Pernod Ricard is down 2.5%, and Johnnie Walker-owner Diageo slips 2.4%. (josephmichael.stonor@wsj.com)

(END) Dow Jones Newswires

January 27, 2026 10:29 ET (15:29 GMT)

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Spirit stocks remain unattractively priced, she adds. A clutch of European spirit stocks fall over 2%: Remy Cointreau tumbles 3%, while Davide Campari-Milano falls 2.75%. Pernod Ricard is down 2.5%, and Johnnie Walker-owner Diageo slips 2.4%. 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Morgan analyst Celine Pannuti writes. Sprit makers still need to clear built-up inventories, while companies might have to lower prices in order to lure consumers back to spirit products, the analyst says. Those factors, paired with the investment needed to build out competitive advantages in ready-to-drink products, will weigh on earnings over the next two fiscal years, Pannuti writes. Spirit stocks remain unattractively priced, she adds. A clutch of European spirit stocks fall over 2%: Remy Cointreau tumbles 3%, while Davide Campari-Milano falls 2.75%. Pernod Ricard is down 2.5%, and Johnnie Walker-owner Diageo slips 2.4%. 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