5 Best Wine Stocks To Buy Heading Into 2023

4. Pernod Ricard SA (OTC:PDRDF)

Number of Hedge Fund Holders: N/A

Pernod Ricard SA (OTC:PDRDF) was founded in 1805 and is headquartered in Paris, France. The company produces and sells wines and spirits worldwide. The company also offers whiskey, vodka, gin, rum, liqueur and bitters, champagne, tequila, mezcal, and aperitif under multiple brands. On October 17, Pernod Ricard SA (OTC:PDRDF) announced that it will acquire a majority stake in Código 1530 tequila, a range of ultra-premium and prestige tequila. Código 1530 tequila, which is produced in Mexico, is available in 50 U.S. states and has a presence in over 30 markets globally.

On December 15, Credit Suisse analyst Sanjeet Aujla upgraded Pernod Ricard SA (OTC:PDRDF) to Outperform from Neutral with a EUR 230 price target. The analyst cited U.S. portfolio reshaping, potential India Scotch duty reduction, and China re-opening for the upgrade. He also trimmed his earnings forecasts across the sector primarily to factor in recent FX moves and higher net finance costs.