Diageo: Oddo BHF reduces target price

(CercleFinance.com) - Oddo BHF maintains its "outperform" rating on Diageo shares, although has reduced its target price for them from 3440 pence to 3200 pence, after the British spirits group issued a profit warning on Friday.


This downward revision of targets for H1 and H2, while failing to provide guidance for FY 2023/24, leads the broker to reduce its EPS estimates by 9% for this financial year and beyond.

The analyst continues to believe that Diageo's valuation represents an attractive entry point for a quality stock in the staples sector, however.


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