Diageo: UBS, a buyer; hails solid accounts
(CercleFinance.com) - This morning an analyst at UBS welcomes Diageo's interim results, which are well above the consensus, particularly driven by strong performance in North America and an acceleration in Asia.
UBS points out that organic sales growth reached +6% in North America, while consensus was expecting +4.2%, +5% in Europe and Turkey (vs. +3.7% expected), +13 % in Asia (vs. +10.1% expected), +6% in Africa (vs. +5.3% expected), and +9% in LatAm (vs. +6.1% expected).
"For FY19 we believe organic sales will now be at the top end of the 4- 6% range with the slower H2 driven by tougher comps in large markets," UBS anticipates, which maintains its 12-month target price of 3,100 pence for the share.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
UBS points out that organic sales growth reached +6% in North America, while consensus was expecting +4.2%, +5% in Europe and Turkey (vs. +3.7% expected), +13 % in Asia (vs. +10.1% expected), +6% in Africa (vs. +5.3% expected), and +9% in LatAm (vs. +6.1% expected).
"For FY19 we believe organic sales will now be at the top end of the 4- 6% range with the slower H2 driven by tougher comps in large markets," UBS anticipates, which maintains its 12-month target price of 3,100 pence for the share.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.