Diageo: Oddo BHF raises target price

(CercleFinance.com) - Oddo BHF maintains its 'outperform' rating on Diageo shares, raising its target price from 3200 pence to 3400 pence, after adjusting its DCF assumptions for the British spirits group.


The current valuation level presents an attractive entry point at a time when risks have been well priced in, with the group set to return to growth in the coming months, the analyst says.

Oddo BHF notes that the only point of uncertainty is the currency effect, dependent on highly volatile emerging currencies. In the very near term, therefore, Diageo's outperformance of Pernod Ricard could fade, he warns.


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