Diageo has had its recommendation and price target raised. Dresdner Kleinwort Wasserstein said yesterday (13 September) that it has upped its recommendation on the drinks giant to 'add' from 'hold,' while increasing its share price target to 875 pence from 800p.

A spokesman for the investment bank said: " We have looked in some detail at the numbers following on from Diageo's results two weeks ago. We believe that the have low-balled their guidance for this year and we have upgraded our forecasts."