(CercleFinance.com) – Oddo BHF maintains its ‘outperform’ opinion on Diageo shares and revises its price target upwards from 3,200 to 3,400 pence, after adjusting its DCF assumptions for the British spirits group.
‘The current valuation level presents an attractive entry point at a time when the risks have been well integrated and the group should return to growth in the coming months’, estimates the analyst in charge of the file.
Oddo BHF notes as the only point of uncertainty currency effects, dependent on very volatile emerging currencies. ‘In the very short term, therefore, the outperformance of Diageo shares against Pernod Ricard could diminish,’ he warns.
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