1238 GMT - Diageo looks set to continue beating its competitors in the U.S., as its sales trends show acceleration against the industry, UBS analysts write in a research note. The U.K. spirits maker seems to be experiencing good momentum in the country, significantly outperforming a still weak spirits industry, the analysts say. This is supported by strong growth momentum behind key brands Don Julio and Crown Royal, which can be sustained, they add. Drinks makers have been facing a challenging environment after an increase in consumption during the pandemic, which led to high inventories, particularly in the U.S. "We see scope for Diageo continuing to outperform in the U.S.," they say. UBS upgrades Diageo to buy from sell. Shares are up 2.9% at 2,562 pence. (andrea.figueras@wsj.com)
(END) Dow Jones Newswires
December 12, 2024 07:38 ET (12:38 GMT)
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