Diageo downgraded to Underperform from Neutral at Exane BNP Paribas

Exane BNP Paribas analyst Jeff Stent downgraded Diageo to Underperform from Neutral with a price target of 2,500 GBp, down from 3,000 GBp. The analyst now sees downside rise to consensus earnings estimates across of the beverage space. Spirit valuations “look temping” but U.S. trends are “alarmingly weak,” the analyst tells investors in a research note.