China on Track for Diageo Despite Recent Volatility; Shares Fairly Valued
Diageo's president of Greater China and Asia, Samuel Fischer, held a call with investors that went some way to assuaging concerns over the impact of the trade wars and economic slowdown in China on consumer demand. We think Diageo is slowly widening its economic moat in some of the emerging Asian markets, and we are reiterating our wide moat rating and GBP 27 fair value estimate. After a very strong two-year rally, we now regard Diageo as being fairly valued.An economic slowdown in China would ...
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