1516 GMT - Diageo could start to look different once confidence in spirits growth increases and under a new CFO, Jefferies analysts Edward Mundy and Andrei Andon-Ionita say. The U.K. spirits maker earlier this year named Nik Jhangiani, who was finance chief at Coca-Cola Europacific Partners, as its new CFO, replacing Lavanya Chandrashekar. Jhangiani has taken the role after some difficult years and following a period of considerable internal change, they write in a research note. He will bring a renewed focus on growth, profit and cash, they add. The analysts expect fiscal 2025 to remain challenging, as the beverage sector faces a downgrade cycle, and a recovery from fiscal 2026 onward. Jefferies upgrades its rating on Diageo stock to buy from hold. Shares are up 2.7% at 2,403 pence. (andrea.figueras@wsj.com)
(END) Dow Jones Newswires
December 05, 2024 10:17 ET (15:17 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。