Deutsche Bank Aktiengesellschaft has reduced its price target for Diageo (LON:DGE) from GBX 1,840 to GBX 1,790. This adjustment, communicated to investors on Friday, reflects the brokerage’s current “hold” rating on the stock. The new target suggests a potential upside of approximately 2.52% based on Diageo’s closing price prior to the announcement.
Analysts continue to evaluate Diageo’s stock performance, with several firms providing insights in recent reports. Berenberg Bank has set its price target at GBX 2,370, slightly down from a previous target of GBX 2,372, while maintaining a “buy” rating. Similarly, UBS Group reaffirmed a “buy” rating with a target of GBX 2,250 as of October 31, 2023.
In a contrasting move, JPMorgan Chase & Co. lowered its target from GBX 2,500 to GBX 2,000, assigning a “neutral” rating. On the other hand, Citigroup adjusted its target from GBX 2,750 to GBX 2,480, still retaining a “buy” rating. Jefferies Financial Group also restated a “buy” rating with a price objective of GBX 2,300 on November 7, 2023.
Overall, four investment analysts have given Diageo a “buy” rating, while an equal number have opted for a “hold” rating. According to data from MarketBeat.com, the consensus rating for Diageo is currently “Moderate Buy,” with an average target price of GBX 2,198.75.
Insider Transactions and Company Overview
In related developments, insider John Alexander Manzoni purchased 358 shares of Diageo on October 10, 2023, at an average price of GBX 1,833 per share, amounting to a total investment of £6,562.14. Over the past three months, company insiders have acquired a total of 1,077 shares valued at approximately $2,013,184. Presently, insiders hold about 0.16% of Diageo’s stock.
Diageo is recognized as a global leader in the premium drinks sector, encompassing both spirits and beer. The company boasts a diverse portfolio of over 200 brands distributed across 180 countries. With a blend of established names and innovative new products, Diageo continues to strengthen its market presence, supported by a workforce of over 30,000 employees operating in more than 135 countries.
