** Shares in Remy Cointreau RCOP.PA rise as much as 14% as the highly shorted stock rallies after the French cognac maker sets out a three-year turnaround plan

** "Although details around the group's new mid-term strategy remain limited, the moves towards greater portfolio diversification, a bigger EM focus and new cognac launches in the US are likely to be viewed supportively," says Citi

** Remy targets a return to growth and an additional €100 million ($116 million) in operating profit by 2028/29

** Strategy includes doubling sales in travel retail and emerging markets, and launching a new Remy Martin innovation in the U.S. in the first quarter of 2027/28

** Annual organic operating profit fell 11.5%, less than the 12.4% drop expected in a company-compiled consensus

** TP ICAP Midcap says results confirm 2025–26 as a transitional year marking a cyclical trough, with limited recovery and continued pressure on profitability

** Shares lead SBF120 .SBF120 gainers, set for their best day since January 2024 after losing more that 74% since 2023

($1 = 0.8613 euros)