UBS downgraded Diageo (DEO) to Neutral from Buy with a price target of 1,850 GBp, down from 2,250 GBp. As Diageo deals with multiple challenges, shares have underpeformed by 32% this year, and UBS sees further downside risks to the U.S. spirits industry, the analyst tells investors in a research note. The firm struggles to justify how shares can outperform in the first half with Tequila negative and Diageo losing share.
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Read More on DEO:
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