Diageo : What might the impacts be of a sale of the beer business (not including Guinness)?
>Outperform rating maintained with an unchanged target price of 3,200p - We maintain our target price of 3,200p and our Outperform rating on Diageo. We still think that the current valuation level (17x P/E NTM) is an attractive entry point at a time when the risks have been well factored in and momentum is set to improve. An Axios article published on 5 December mentioned a potential sale of Diageo’s beer activity excluding Guinness, or 8% of the group’s sales, mostly...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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