Diageo : US market still under pressure in H2 2023-24e
>Outperform rating maintained, target price adjusted to 3,100p vs 3,400p - We have revised our estimates ahead of the FY 2023-24e results on 30 July to reflect a deterioration in the US market in H2 23/24e and worsening emerging market currency trends which undermines EBIT. We now expect an EPS decline of -17% vs -10% before and -15% for the css. We have adjusted our target price to 3,100 vs 3,400p previously based on this revision. We however maintain our Outperform ...Diageo is a premium drinks business based in the United Kingdom. Co. is engaged in producing and distributing spirits, beer and wine. Co.'s operations include producing, distilling, brewing, bottling, packaging, distributing, developing and marketing of a range of brands. The brands that it produces and distributes include Smirnoff vodka, Johnnie Walker scotch whisky, Baileys Original Irish Cream liqueur, Captain Morgan rum, J&B scotch whisky, Tanqueray gin and Guinness stout. In addition, Co. also has the distribution rights for the Jose Cuervo tequila brands in North America and other countries.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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