Diageo (NYSE:DEO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The brokerage presently has a $160.00 price target on the stock.
According to Zacks, “Shares of Diageo have outperformed the industry in the past one year, driven by its strong fundamentals, continuous innovation and focus on expansion. Also, the company’s strategic endeavors including growth via acquisitions remain noteworthy. In fact, the buyout of the U.S. fastest-growing premium tequila brand, Casamigos, is expected to boost its market share in the category and is likely to capitalize on the company’s presence in the high-growth international markets.Notably, alcohol stocks are doing well backed by the rising demand for flavored whisky, premium tequilas and spirits. However, currency fluctuations pose a serious concern for the company. Macroeconomic factors such as interest rate hikes and increase in fuel and energy costs may also impact the company’s profitability.”
DEO has been the topic of several other research reports. Jefferies Group reaffirmed a “buy” rating and issued a $155.40 price target (up previously from $155.20) on shares of Diageo in a research report on Saturday, September 30th. Evercore ISI started coverage on shares of Diageo in a research report on Thursday, September 28th. They issued an “outperform” rating and a $152.00 price target on the stock. Finally, Berenberg Bank cut shares of Diageo from a “buy” rating to a “hold” rating in a research report on Wednesday, September 13th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. Diageo currently has a consensus rating of “Hold” and an average price target of $155.10.
WARNING: “Zacks Investment Research Upgrades Diageo (DEO) to Buy” was posted by Community Financial News and is the property of of Community Financial News. If you are reading this story on another publication, it was illegally copied and republished in violation of U.S. and international copyright and trademark laws. The original version of this story can be viewed at https://www.com-unik.info/2017/12/27/zacks-investment-research-upgrades-diageo-deo-to-buy.html.
Diageo PLC is an alcoholic beverage company. The Company operates in various categories, including spirits and beer. Its geographic segments include North America; Europe, Russia and Turkey; Africa; Latin America and Caribbean, and Asia Pacific. Its principal products includes Scotch whisky, Gin, Vodka, Rum, Beer, Irish Cream Liqueur, Wine, Raki, Tequila, Canadian Whisky, American Whiskey, Progressive Adult Beverages, Cachaca, Brandy and Ready to Drink.
What are top analysts saying about Diageo? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Diageo and related companies.