Berenberg Bank Reiterates a Buy Rating on Diageo plc (DEO)

Diageo plc (NYSE:DEO) is one of the Ridiculously Cheap Stocks to Buy According to Analysts. On September 18, Javier Gonzalez Lastra from Berenberg Bank reiterated a Buy rating on Diageo plc (NYSE:DEO) with a price target of £23.72.

The rating comes after the company, on September 8, announced the sale of its coffee-cream liqueur brand Sheridan’s to Portuguese company Casa Redondo. Sheridan’s is a unique, two-part liqueur known for its distinctive bottle design. It is sold in over 50 countries, with strong distribution in Europe. Management noted that this sale, along with recent sales of other European brands like Pampero, Cacique, and Safari, reflects the company’s focus on managing its portfolio to maximize shareholder value. The company aims to concentrate on its core strengths and become a top consumer products company globally.

Diageo plc (NYSE:DEO) is a global leader in premium alcoholic beverages. The company produces and distributes well-known spirits and beers like Johnnie Walker, Smirnoff, Guinness, and Baileys.

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Disclosure: None. This article is originally published at Insider Monkey.