Royal Bank of Canada Downgrades Diageo (DGE) to Sector Performer
Royal Bank of Canada cut shares of Diageo (LON:DGE) to a sector performer rating in a research note issued to investors on Monday. They currently have GBX 2,400 ($33.70) price target on the stock, down from their prior price target of GBX 2,600 ($36.51).
Several other research analysts have also issued reports on DGE. Shore Capital reiterated a buy rating on shares of Diageo in a research report on Thursday, October 5th. Goldman Sachs Group set a GBX 2,420 ($33.98) target price on shares of Diageo and gave the stock a neutral rating in a research report on Tuesday, October 10th. JPMorgan Chase & Co. set a GBX 2,800 ($39.32) target price on shares of Diageo and gave the stock a buy rating in a research report on Thursday, October 12th. Sanford C. Bernstein set a GBX 3,000 ($42.13) target price on shares of Diageo and gave the stock a buy rating in a research report on Monday, October 16th. Finally, UBS Group set a GBX 2,880 ($40.44) target price on shares of Diageo and gave the stock a buy rating in a research report on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of GBX 2,637.32 ($37.04).
Diageo (LON:DGE) opened at GBX 2,536.25 ($35.62) on Monday. Diageo has a 1 year low of GBX 2,170 ($30.47) and a 1 year high of GBX 2,735.50 ($38.41). The stock has a market cap of $62,840.00 and a price-to-earnings ratio of 1,997.05.
In other Diageo news, insider Javier Ferrán purchased 30,000 shares of the stock in a transaction on Friday, January 26th. The stock was acquired at an average cost of GBX 2,541 ($35.68) per share, with a total value of £762,300 ($1,070,495.72). Insiders acquired 30,025 shares of company stock valued at $76,295,632 over the last three months.
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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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