Berenberg Bank Lowers Diageo plc (DGE) to Hold
Diageo plc (LON:DGE) was downgraded by equities researchers at Berenberg Bank to a “hold” rating in a research note issued to investors on Wednesday. They presently have a GBX 2,550 ($32.93) price target on the stock. Berenberg Bank’s price target indicates a potential downside of 1.18% from the company’s current price.
DGE has been the subject of several other reports. J P Morgan Chase & Co set a GBX 2,500 ($32.29) price target on shares of Diageo plc and gave the company a “buy” rating in a research report on Friday, July 28th. Shore Capital restated a “buy” rating on shares of Diageo plc in a research report on Thursday, June 22nd. UBS AG set a GBX 2,880 ($37.19) price target on shares of Diageo plc and gave the company a “buy” rating in a research report on Wednesday, August 30th. Liberum Capital restated a “sell” rating and set a GBX 2,000 ($25.83) price target on shares of Diageo plc in a research report on Tuesday, July 11th. Finally, Deutsche Bank AG set a GBX 2,175 ($28.09) price target on shares of Diageo plc and gave the company a “neutral” rating in a research report on Monday, July 17th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of GBX 2,561.05 ($33.08).
Diageo plc (LON DGE) opened at 2580.50 on Wednesday. The company’s market capitalization is GBX 64.86 billion. Diageo plc has a 12 month low of GBX 1,946.00 and a 12 month high of GBX 2,616.00. The company’s 50-day moving average price is GBX 2,513.00 and its 200 day moving average price is GBX 2,351.64.
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In other Diageo plc news, insider Javier Ferran bought 65,000 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was acquired at an average price of GBX 2,503 ($32.33) per share, with a total value of £1,626,950 ($2,101,188.17). Also, insider Alan Stewart bought 4,076 shares of the firm’s stock in a transaction on Friday, July 28th. The shares were acquired at an average cost of GBX 2,465 ($31.84) per share, with a total value of £100,473.40 ($129,760.30). Insiders have acquired 69,099 shares of company stock valued at $172,798,894 in the last ninety days.
Diageo plc Company Profile
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.
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