JPMorgan Chase & Co. Lowers Diageo (LON:DGE) Price Target to GBX 2,000

Diageo (LON:DGE) had its price objective reduced by JPMorgan Chase & Co. from GBX 2,500 to GBX 2,000 in a note issued to investors on Wednesday,London Stock Exchange reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 16.52% from the company’s previous close.

A number of other equities research analysts have also recently commented on the stock. The Goldman Sachs Group raised shares of Diageo to a “neutral” rating and set a GBX 2,000 target price for the company in a report on Thursday, August 7th. UBS Group reaffirmed a “buy” rating and issued a GBX 2,250 price objective on shares of Diageo in a report on Friday, October 31st. Citigroup cut their target price on Diageo from GBX 2,750 to GBX 2,480 and set a “buy” rating for the company in a research note on Monday, October 20th. Jefferies Financial Group reissued a “buy” rating and set a GBX 2,300 price target on shares of Diageo in a research note on Friday, November 7th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Diageo from GBX 1,950 to GBX 1,915 and set a “hold” rating for the company in a report on Thursday, October 16th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of GBX 2,214.38.

Diageo Stock Performance

Shares of DGE traded down GBX 17 during mid-day trading on Wednesday, reaching GBX 1,716.50. 1,088,965,875 shares of the company’s stock were exchanged, compared to its average volume of 9,173,741. The business’s fifty day simple moving average is GBX 1,783.55 and its 200-day simple moving average is GBX 1,908.50. The stock has a market capitalization of £38.16 billion, a PE ratio of 16.24, a price-to-earnings-growth ratio of 1.75 and a beta of 0.36. Diageo has a 52-week low of GBX 1,664 and a 52-week high of GBX 2,619.50. The company has a debt-to-equity ratio of 234.57, a current ratio of 1.94 and a quick ratio of 0.62.

Insider Transactions at Diageo

In other news, insider John Alexander Manzoni bought 355 shares of Diageo stock in a transaction dated Monday, November 10th. The shares were acquired at an average cost of GBX 1,850 per share, with a total value of £6,567.50. Insiders have purchased a total of 1,077 shares of company stock valued at $2,013,184 over the last three months. 0.16% of the stock is owned by company insiders.

About Diageo

Diageo is a global leader in premium drinks, across spirits and beer, a business built on the principles and foundations laid by the giants of the industry.

With over 200 brands sold in 180 countries, our portfolio has remarkable breadth. From centuries-old names to exciting new entrants, and global giants to local legends, we’re building the very best brands out there, and with over 30,000 talented people based in over 135 countries, we’re a truly global company.