Diageo: Jefferies ups target price
(CercleFinance.com) - Jefferies maintains its "buy" recommendation on the Diageo stock and has raised its corresponding target price from 3300 pence to 3600 pence, considering the British spirits giant's strategy as "(Boring but) far from dull".
"Whilst DGE would not be immune from a major macro/regulatory shock, the business is better able to absorb volatility than historically," the broker says in its report.
"Shares are getting close to a natural ceiling on valuation but can deliver LDD TSR on delivery of the model," the broker continues.
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