Diageo (LON:DGE) Raised to Outperform at Royal Bank of Canada

Diageo (LON:DGE) was upgraded by equities researchers at Royal Bank of Canada to an “outperform” rating in a research note issued on Tuesday, Marketbeat reports. The brokerage presently has a GBX 3,500 ($45.73) price target on the stock, up from their prior price target of GBX 3,100 ($40.51). Royal Bank of Canada’s price objective points to a potential upside of 13.51% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. JPMorgan Chase & Co. set a GBX 3,315 ($43.32) target price on Diageo and gave the stock a “neutral” rating in a report on Thursday, October 3rd. Credit Suisse Group reiterated a “buy” rating and issued a GBX 3,570 ($46.65) target price on shares of Diageo in a report on Friday, November 22nd. Shore Capital reiterated an “under review” rating on shares of Diageo in a report on Thursday, September 19th. Deutsche Bank set a GBX 3,500 ($45.73) target price on Diageo and gave the stock a “neutral” rating in a report on Friday, October 4th. Finally, Sanford C. Bernstein set a GBX 3,300 ($43.12) price objective on Diageo and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of GBX 3,434.33 ($44.88).

Shares of DGE stock opened at GBX 3,083.50 ($40.29) on Tuesday. Diageo has a twelve month low of GBX 2,688.50 ($35.13) and a twelve month high of GBX 3,633.50 ($47.48). The stock has a market capitalization of $72.39 billion and a price-to-earnings ratio of 23.70. The stock has a fifty day simple moving average of GBX 3,126.92 and a two-hundred day simple moving average of GBX 3,310.11. The company has a current ratio of 1.34, a quick ratio of 0.52 and a debt-to-equity ratio of 125.00.

In related news, insider Javier Ferrán acquired 267 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was purchased at an average cost of GBX 3,096 ($40.45) per share, for a total transaction of £8,266.32 ($10,801.41). Insiders have purchased a total of 274 shares of company stock valued at $849,975 over the last 90 days.

About Diageo

Diageo plc, together with its subsidiaries, produces, markets, and sells alcoholic beverages worldwide. The company offers a collection of brands across spirits, beer, cider, and wine categories. Its brands include Johnnie Walker, Crown Royal, J&B, Buchanan's and Windsor whiskies, Smirnoff, Cîroc and Ketel One vodkas, Captain Morgan, Baileys, Don Julio, Bundaberg, McDowell's No.

Read More: What Are Treasury Bonds?

Analyst Recommendations for Diageo (LON:DGE)

Receive News & Ratings for Diageo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diageo and related companies with MarketBeat.com's FREE daily email newsletter.