1033 GMT - Large spirit makers in Europe are in a robust position to face U.S. tariffs, even though they pose a serious concern, Berenberg analysts Javier Lastra and Craig Sinclair say in a note. Spirit stocks have come down to levels that already discount quite negative scenarios, they say. Diageo and Pernod Ricard offer the most attractive profiles in this backdrop. However, the tariff threat shouldn't be underestimated as a 200% duty could basically kill an import-spirit business, the analysts say. The beer and soft drinks sector are in better condition given that they work faster through cyclical corrections and have limited exposure to tariffs, they say. Berenberg's top pick among brewers is Heineken. AB InBev and Molson Coors have an interesting upside, and Coca-Cola Hellenic is positive in soft drinks. (michael.susin@wsj.com)
(END) Dow Jones Newswires
April 02, 2025 06:33 ET (10:33 GMT)
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