Bernstein analyst Trevor Stirling upgraded Diageo to Outperform from Market Perform with a price target of $225, up from $215. The analyst says Diageo is one of the best long-term growth stories in global staples. The company is well positioned to profit from the long-term structural growth in U.S. spirits and has "great momentum" in emerging markets, the firm tells investors in a research note. The analyst is confident that Diageo will hit the upper end of its long-term guidance of 5%-7% organic sales growth, with operating profit growth a point ahead.
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