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Citigroup Smith Barney has initiated coverage of Davide Campari-Milano. The US broker has set a 'buy' recommendation for Campari.

In setting a price target of €64 for the drinks company, Citigroup highlighted Campari's management, strong compound annual growth rate (CAGR), operating profit and strong cash generation.

Citigroup also said that Campari has a €400m war-chest to finance acquisitions and will probably look to buy small spirits producers. The group itself could also be a target, the broker added.


Sectors: Spirits

Companies: Campari

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