Diageo initiated with a Buy at Berenberg

Berenberg initiated coverage of Diageo (DEO) with a Buy rating and 2,372 GBp price target The macro environment “has not been kind to the beverages sector, but it could be changing, thanks partly to the Trump administration and partly to lower inflation,” the analyst tells investors in a research note. The firm initiated coverage of 12 stocks and its top pick is Heineken. There is also “interesting upside” in AB InBev and Molson Coors, says Berenberg.