Deutsche Bank Raises Rating on Diageo to Buy While Trimming Valuation
Deutsche Bank moved Diageo to a buy rating from hold while cutting its price target to 1,650p from 1,790p, reflecting downgraded earnings estimates and expected margin compression. The bank forecasts a recovery in profitability in FY27 but models EPS well below consensus for FY27 and FY28, and assumes notable EBIT margin reductions in North America…