UK: AD rating movement prior to results
Three investment organisations have shifted their stances on Allied Domecq today. The drinks company is due to release its results on Thursday of this week.
Goldman Sachs upgraded its rating on AD to "in-line" from "underperform". No further details were immediately available.
Lehman Brothers lifted its price target on the company to 500 pence per share from 415p, while keeping its "overweight" rating on AD's shares.
Cazenove, however, cuts its rating on the spirits company to "long-term buy" from "buy". In a research note, the stockbroker said: "We do not anticipate negative news on trading at the interims - if anything the reverse is the case - but investors already are expecting strong commercial progress and this must be largely discounted in the share price."
Conflicting reports circulated this weekend over whether Bacardi International is looking to form a counter-bid for Allied Domecq....
Todays press reports into Pernod and Fortune's hopes to buy Allied Domecq warn of possible conflicts and set a date for completion....
Allied Domecq has added a new flavour to its Malibu range. The company said yesterday that it would be launching Malibu Passion Fruit in the US from April 15....
Pernod Ricard and Fortune Brands are hoping to buy Allied Domecq for around 670p per share, according to press reports....
LVMH has said it is not looking to buy Mumm Champagne from Allied Domecq....
The US consumer goods group Fortune Brands has confirmed it is in talks about launching a joint bid with Pernod Ricard for Allied Domecq....
Diageo is to launch a new global advertising campaign for Smirnoff Ice. The first ad in the global campaign, 'Garden', launches in Great Britain on April 11th on terrestrial and satellite TV. ...
Fideuram Wargny has upgraded its rating of Pernod Ricard to 'buy' from 'hold'. Its analysts argue that the merger talks with Allied Domecq is a catalyst for share growth....
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