UK: Diageo rating lifted
Diageo has had its share coverage upgraded.
Deutsche Bank today (7 June) raised its rating on the drinks giant to 'buy' from 'hold,' while upping its price target to 1,000p from 900p. The bank also advised investors to switch from Pernod Ricard to Diageo.
In a note to clients, the bank said that the group is poised to start delivering an attractive rate of sustainable growth. Deutsche Bank said that Diageo was well-placed thanks to the disappearance of many features which have historically held back growth, coupled with evidence of increased momentum across Diageo's key brands.
The bank added that it believed Diageo would overtake its French rival and begin reporting superior growth. While Pernod was well-poised to offer further short-term upside due to the Allied Domecq synergies, Deutsche Bank said that long-term investors should look to switch.
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21st Century Spirits LLC has acquired the U. rights to import and market the Gabriel Boudier line of liqueurs and eaux-de-vies....
Orangina Schweppes has appointed Hughes Pietrini as marketing director....
Diageo, Bacardi and Pernod Ricard have pledged separate contributions totalling EUR120,000 to a campaign fund set up by the European Travel Retail Confederation (ETRC) to tackle the threat posed by ne...
Blossom Hill has announced a GBP900,000 (US$1.76m) TV advertising campaign in the UK for the four weeks leading up to Christmas....
Diageo has been given the all-clear to make a bid for New Zealand's Independent Liquor....
Remy Cointreau has been upgraded to 'hold' from 'sell' by SG Securities as part of the broker's review of the spirits sector....
Sula Vineyards is expanding its domestic market, according to local reports....
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