TD Cowen Forecasts Strong Price Appreciation for Diageo (NYSE:DEO) Stock

Diageo (NYSE:DEO) had its target price boosted by analysts at TD Cowen from $124.00 to $129.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the stock. TD Cowen’s target price suggests a potential upside of 3.36% from the company’s previous close.

A number of other equities research analysts have also recently commented on DEO. Bank of America raised shares of Diageo from a “neutral” rating to a “buy” rating in a research report on Thursday, September 12th. UBS Group upgraded Diageo from a “sell” rating to a “buy” rating in a research note on Wednesday, December 11th. Finally, Jefferies Financial Group upgraded Diageo from a “hold” rating to a “buy” rating in a research note on Thursday, December 5th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Diageo currently has an average rating of “Hold” and an average price target of $129.00.

Diageo Stock Down 0.1 %

Shares of NYSE DEO traded down $0.07 during mid-day trading on Wednesday, reaching $124.81. 354,829 shares of the company were exchanged, compared to its average volume of 1,009,246. Diageo has a 1 year low of $117.72 and a 1 year high of $154.71. The firm has a 50-day moving average of $123.24 and a 200 day moving average of $128.40. The stock has a market cap of $69.43 billion, a price-to-earnings ratio of 16.89, a P/E/G ratio of 3.73 and a beta of 0.67. The company has a quick ratio of 0.55, a current ratio of 1.53 and a debt-to-equity ratio of 1.62.

Institutional Investors Weigh In On Diageo

Institutional investors and hedge funds have recently modified their holdings of the company. Brooklyn Investment Group acquired a new stake in Diageo during the 3rd quarter valued at approximately $25,000. Modus Advisors LLC purchased a new stake in Diageo in the fourth quarter valued at $35,000. Concord Wealth Partners acquired a new stake in Diageo during the 3rd quarter worth about $38,000. Bruce G. Allen Investments LLC raised its stake in shares of Diageo by 1,395.0% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 299 shares of the company’s stock valued at $42,000 after buying an additional 279 shares during the last quarter. Finally, Davis Capital Management acquired a new position in shares of Diageo in the 3rd quarter valued at about $55,000. Institutional investors and hedge funds own 8.97% of the company’s stock.

Diageo Company Profile

Diageo plc, together with its subsidiaries, engages in the production, marketing, and sale of alcoholic beverages. The company offers scotch, gin, vodka, rum, raki, liqueur, wine, tequila, Chinese white spirits, cachaça, and brandy, as well as beer, including cider and flavored malt beverages. It also provides Chinese, Canadian, Irish, American, and Indian-Made Foreign Liquor whiskies, as well as flavored malt beverages, ready to drink, and non-alcoholic products.