Diageo Downgraded to “Market Perform” at Bernstein; Target Raised (DEO)

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Alcoholic beverage producer Diageo plc ( DEO ) on Monday saw its rating cut, but price target raised, by analysts at Bernstein.

The firm said it downgraded DEO from "Outperform" to "Market Perform," but lifted its price target to $90. That new target suggests an 8% upside to the stock's Friday closing price of $83.49.

DEO produces famous liquor brands such as Johnnie Walker, Bailey's, Captain Morgan, Tanqueray, and Guinness.

Diageo shares were mostly flat in premarket trading Monday.

The Bottom Line
We have been recommending shares of Diageo ( DEO ) since Dec.8, 2010, when the stock was trading at $72.10. The company has a 2.96% dividend yield, based on Friday's closing stock price of $83.49.

Diageo plc ( DEO ) is a "Recommended" dividend stock, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Stocks

Referenced Stocks: DEO

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