Allied Domecq's rating has been upped ahead of tomorrow's results release. JP Morgan has today raised its rating for AD to "overweight" from "underweight".

In a research note, JP Morgan said: "Improved trading momentum appears intact. We have become more positive on the group's prospects in the US and on its overall portfolio/cash flow.
"Recent data suggests that Allied's top 10 brands are growing strongly. We consider that at least nine of the brands are growing, and that the overall volume increase in H1 for these key brands should exceed six percent. This trend in momentum looks set to continue," it added.