Citigroup Issues Pessimistic Forecast for Diageo (LON:DGE) Stock Price

Key Points

• Citigroup downgraded Diageo's price target from GBX 2,750 to GBX 2,480 while maintaining a "buy" rating, indicating a potential upside of 36.33% from its current price.
• Other firms like Royal Bank Of Canada and Deutsche Bank have also adjusted their ratings, with a mix of "buy" and "hold" ratings impacting Diageo's consensus rating, which remains a "Moderate Buy."
• Diageo's shares opened at GBX 1,819.10, with a market capitalization of £40.45 billion and notable insider purchases in recent weeks, reflecting some confidence among insiders despite market volatility.

Diageo (LON:DGE - Get Free Report) had its price target dropped by analysts at Citigroup from GBX 2,750 to GBX 2,480 in a research note issued to investors on Monday,Digital Look reports. The brokerage presently has a "buy" rating on the stock. Citigroup's price target suggests a potential upside of 36.33% from the company's current price.

A number of other research firms have also weighed in on DGE. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a GBX 2,400 price target on shares of Diageo in a report on Wednesday, July 16th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Diageo from GBX 1,950 to GBX 1,915 and set a "hold" rating for the company in a report on Thursday. JPMorgan Chase & Co. reaffirmed a "neutral" rating on shares of Diageo in a report on Thursday, August 7th. Jefferies Financial Group cut their price objective on shares of Diageo from GBX 2,500 to GBX 2,400 and set a "buy" rating on the stock in a research report on Monday, September 8th. Finally, Berenberg Bank reiterated a "buy" rating and issued a GBX 2,372 price objective on shares of Diageo in a research report on Tuesday, August 5th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Diageo has a consensus rating of "Moderate Buy" and a consensus target price of GBX 2,373.38.

Diageo Stock Performance

Shares of DGE opened at GBX 1,819.10 on Monday. The company has a debt-to-equity ratio of 234.57, a quick ratio of 0.62 and a current ratio of 1.94. The company has a market capitalization of £40.45 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 1.75 and a beta of 0.36. Diageo has a 1 year low of GBX 1,736.87 and a 1 year high of GBX 2,668. The company's 50 day simple moving average is GBX 1,913.47 and its 200 day simple moving average is GBX 1,966.75.

Insider Transactions at Diageo

In other Diageo news, insider John Alexander Manzoni bought 358 shares of Diageo stock in a transaction on Friday, October 10th. The stock was purchased at an average cost of GBX 1,833 per share, for a total transaction of £6,562.14. Insiders have purchased 1,042 shares of company stock valued at $2,012,634 in the last ninety days. 0.16% of the stock is owned by insiders.

About Diageo

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.

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