UK: Allied Domecq target price increased
Allied Domecq has seen its price target raised by Dutch bank ING. The bank upped its target for the spirits group yesterday to 450 pence per share from 421p based, it said, on strong US sales over the festive period.
In a research note reported by Reuters, analyst Gerard Rijk said: "In addition, we believe that Allied has shown a better October-December growth rate than Pernod Ricard in the US."
ING currently has a "buy" rating on Allied.
It's been a quiet day on the Pernod/Allied Domecq front....
Conflicting reports circulated this weekend over whether Bacardi International is looking to form a counter-bid for Allied Domecq....
Todays press reports into Pernod and Fortune's hopes to buy Allied Domecq warn of possible conflicts and set a date for completion....
Allied Domecq has added a new flavour to its Malibu range. The company said yesterday that it would be launching Malibu Passion Fruit in the US from April 15....
Pernod Ricard and Fortune Brands are considering a US$13 billion bid for Allied Domecq, the world's second-largest spirits company. Were it to take place, Pernod and Fortune would split Allied's brand...
Pernod Ricard and Fortune Brands are hoping to buy Allied Domecq for around 670p per share, according to press reports....
LVMH has said it is not looking to buy Mumm Champagne from Allied Domecq....
The US consumer goods group Fortune Brands has confirmed it is in talks about launching a joint bid with Pernod Ricard for Allied Domecq....
- It's not all bad for Diageo - Analysis
- Focus - Diageo's FY Performance by Region
- Focus - Diageo's FY Performance by Brand
- Diageo upbeat on Scotch prospects
- Heineken CEO spies trouble ahead for UK
- Edrington appoints new board director
- Challenges remain as Diageo posts flat FY sales
- Diageo puts Bacardi in frame with white rum ads
- Heineken ups sales, profits despite volume squeeze
- Mast-Jagermeister closes Sidney Frank buy
- Global gin insights - market data, product innovation and consumer trends research
- Global rum insights - market forecasts, product innovation and consumer trends research
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends research
- Global Tequila insights - market forecasts, product innovation and consumer trends research
- Global cachaca insights - market data, product innovation and consumer trends research