Sanford C. Bernstein Analysts Give Diageo (DGE) a GBX 2,900 Price Target

Diageo (LON:DGE) has been assigned a GBX 2,900 ($39.33) price objective by Sanford C. Bernstein in a research note issued to investors on Thursday. The brokerage currently has a “buy” rating on the stock. Sanford C. Bernstein’s target price would suggest a potential upside of 13.33% from the company’s current price.

A number of other brokerages have also issued reports on DGE. Morgan Stanley raised their target price on shares of Diageo from GBX 2,800 ($37.97) to GBX 2,900 ($39.33) and gave the stock an “overweight” rating in a research report on Monday, January 8th. Liberum Capital restated a “sell” rating and set a GBX 2,000 ($27.12) target price on shares of Diageo in a research report on Tuesday, December 19th. JPMorgan Chase & Co. restated an “overweight” rating and set a GBX 2,900 ($39.33) target price on shares of Diageo in a research report on Wednesday, January 10th. Jefferies Group restated a “buy” rating and set a GBX 2,900 ($39.33) target price on shares of Diageo in a research report on Wednesday, November 29th. Finally, Goldman Sachs Group set a GBX 2,460 ($33.36) target price on shares of Diageo and gave the stock a “neutral” rating in a research report on Monday, December 11th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of GBX 2,651 ($35.95).

Diageo (LON DGE) traded up GBX 22 ($0.30) during mid-day trading on Thursday, hitting GBX 2,559 ($34.70). 6,453,312 shares of the stock traded hands, compared to its average volume of 3,390,000. The firm has a market capitalization of $63,920.00 and a price-to-earnings ratio of 2,369.44. Diageo has a twelve month low of GBX 2,170 ($29.43) and a twelve month high of GBX 2,735.50 ($37.10).

Diageo (LON:DGE) last released its quarterly earnings results on Thursday, January 25th. The company reported GBX 67.80 ($0.92) EPS for the quarter, beating the consensus estimate of GBX 65.70 ($0.89) by GBX 2.10 ($0.03). Diageo had a net margin of 21.12% and a return on equity of 23.14%. The business had revenue of GBX 653 billion for the quarter.

In other Diageo news, insider Javier Ferrán bought 30,000 shares of the business’s stock in a transaction dated Friday, January 26th. The shares were acquired at an average price of GBX 2,541 ($34.46) per share, with a total value of £762,300 ($1,033,767.29). In the last three months, insiders bought 30,025 shares of company stock worth $76,295,632.

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About Diageo

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.

Analyst Recommendations for Diageo (LON:DGE)

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