UK: Analysts raise Diageo rating
Diageo's continued focus on its drinks division will bear fruit, according to investment bank JP Morgan who has raised its recommendation in the drinks group to "buy" from "market perform". It also revised the company's share price target to 880 pence from 788 pence. In a note the analysts said: "The ongoing focus of the group solely towards alcoholic beverages has not been fully reflected in the share price and group returns on invested capital are forecast to steadily rise."
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