UK: More rating movement for Allied Domecq
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.
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 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....
Diageo is to launch a new global advertising campaign for Smirnoff Ice. The first ad in the global campaign, 'Garden', launches in Great Britain on April 11th on terrestrial and satellite TV. ...
Fideuram Wargny has upgraded its rating of Pernod Ricard to 'buy' from 'hold'. Its analysts argue that the merger talks with Allied Domecq is a catalyst for share growth....
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