Deutsche Bank Aktiengesellschaft Lowers Diageo (LON:DGE) Price Target to GBX 1,734

Key Points

• Deutsche Bank lowered Diageo’s price target from GBX 1,770 to GBX 1,734 while maintaining a “hold” rating, implying 7.14% potential upside from the prior close.
• Analyst sentiment remains positive overall, with an average rating of “Moderate Buy” and a consensus price target of GBX 2,033.86; other firms have issued targets ranging from GBX 2,000 to GBX 2,223.
• Diageo shares traded at GBX 1,618.50, with a market capitalization of approximately £35.99 billion. Insiders purchased 1,240 shares during the last quarter, though insider ownership remains low at 0.16%.

Diageo (LON:DGE - Get Free Report) had its price target cut by investment analysts at Deutsche Bank Aktiengesellschaft from GBX 1,770 to GBX 1,734 in a research note issued on Wednesday, London Stock Exchange reports. The brokerage presently has a "hold" rating on the stock. Deutsche Bank Aktiengesellschaft's price target points to a potential upside of 7.14% from the company's previous close.

A number of other equities analysts have also recently weighed in on DGE. Berenberg Bank reissued a "buy" rating and set a GBX 2,223 price objective on shares of Diageo in a report on Friday, August 7th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a GBX 2,000 target price on shares of Diageo in a research note on Monday, August 24th. Finally, Jefferies Financial Group increased their price target on shares of Diageo from GBX 2,000 to GBX 2,200 and gave the company a "buy" rating in a research report on Monday, August 10th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of GBX 2,033.86.

Diageo Price Performance

LON DGE traded up GBX 9.50 during trading hours on Wednesday, reaching GBX 1,618.50. 15,111,345 shares of the stock traded hands, compared to its average volume of 20,879,113. The company has a debt-to-equity ratio of 203.12, a current ratio of 1.60 and a quick ratio of 0.62. The stock has a 50 day simple moving average of GBX 1,646.99 and a two-hundred day simple moving average of GBX 1,550.24. Diageo has a 1 year low of GBX 1,295.50 and a 1 year high of GBX 1,903.90. The company has a market cap of £35.99 billion, a price-to-earnings ratio of 20.78, a price-to-earnings-growth ratio of 1.75 and a beta of 0.31.

Insider Activity at Diageo

In related news, insider John Alexander Manzoni bought 436 shares of the stock in a transaction dated Friday, July 10th. The stock was bought at an average price of GBX 1,503 per share, with a total value of £6,553.08. Insiders bought a total of 1,240 shares of company stock valued at $2,000,426 in the last quarter. 0.16% of the stock is currently owned by insiders.

Diageo Company Profile

Diageo is a global leader in premium drinks, across spirits and beer, a business built on the principles and foundations laid by the giants of the industry. With over 200 brands sold in 180 countries, our portfolio has remarkable breadth. From centuries-old names to exciting new entrants, and global giants to local legends, we're building the very best brands out there, and with over 30,000 talented people based in over 135 countries, we're a truly global company. With such diversity, we're able to truly represent our broad consumer base and think differently about the future. To maintain our position as leaders in the alcoholic beverage market, we always invest in the future and are mindful of the impact we have.

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