ITALY: Campari rating downgraded
Campari has had its rating cut. Goldman Sachs today (29 September) lowered its coverage of the Italian drinks maker to 'underperform' from 'in-line,' citing weakness in soft drinks and in the Italian market.
Goldman has also reduced its EPS estimates for Campari for this year, 2006 and 2007.
In a research note, the bank said: "We think that weakness in soft drinks and the Italian market will weigh more heavily on the share price than investors may think."
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The Campari Group has strengthened its wine presence with the acquisition of a Tuscan winery....
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....
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....
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