Diageo is continuing its buy-back, while its price target has been raised.
The group announced yesterday that it has purchased another 750,000 ordinary shares for cancellation. The transaction, through Merrill Lynch International, was at an average of 713.21 pence per share.
Meanwhile, UBS investment bank has raised its price target for the company today, to 820 pence per share from 780p. The rise follows an upgrade of its earnings forecast.
UBS kept a ‘buy’ rating on the stock.
