UK: Campari rating and price target shifted
Citigroup has upgraded its stance in Davide Campari-Milano SpA from 'hold' to 'buy'. Dealers said today (3 January) that Citigroup also increased its price target for the drinks company's shares from EUR6.70 to EUR7.10.
Campari's recent acquisitions, including Glen Grant, should mean additional revenue of more than EUR70m a year. Citigroup added that it expected Campari to achieve its guidance of 5% annual growth.
However, based on Campari's free cash flow forecast for 2005 and a weighted average cost of capital of 7%, Citigroup estimated that the current share price implied a long-term growth rate of just 1%.
The rum market may be dominated by white rum - and by one brand in particular - but Larry Watson, managing director, distribution division, at Jamaican rum producer, J Wray & Nephew, believes there is...
Flavoured vodkas have been a major success story in the US where they have prospered on the back of strong sector growth and premiumisation. With European markets also showing consistent growth and so...
Davide Campari-Milano has posted a slight rise in net sales and profits for the first nine months of this year....
Davide Campari-Milano SpA has amassed a EUR500m war chest for acquisitions, according to the Italian company's CEO Enzo Visone....
Campari has had its rating cut....
Davide Campari-Milano S.p.A. has seen a 2.6% rise in sales drive growth across all profitability indicators in the first half of the year....
US investment house Citigroup Smith Barney has cut its rating on Italian drinks group Davide Campari-Milano SpA from "buy" to "hold"....
Goldman Sachs has initiated coverage of Davide Campari-Milano shares....
- Can craft breweries compete in lager arena?
- Remy Cointreau's Q1 performance by brand, region
- SABMiller's Q1 2017 results - Preview
- A snapshot of the UK spirits market - Focus
- SABMiller's Q1 sales performance by region - Focus
- New Hendrick's Gin would have to be "unusual"
- Brown-Forman takes distribution in Spain in-house
- AB InBev halts VAIP incentive plan
- Diageo appoints new Smirnoff head
- AB InBev faces US$7bn price rise for SABMiller
- Adultifying Soft Drinks; Capitalizing on rising adult demand for non-alcoholic beverages
- Global RTD insights - market forecasts, product innovation and consumer trends
- Global travel retail insights - market forecasts, product innovation and consumer trends
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends