0925 GMT - Diageo is one of the best-positioned companies in the European consumer goods sector, but it continues to face headwinds, Deutsche Bank analysts write in a note. The U.K. spirits maker has been able to outperform the U.S. spirits market, thanks to innovation and its Tequila portfolio, they say. However, demand for spirits in the U.S., a key market for beverage makers, remains soft, DB says. This is largely driven by a prolonged period of normalization after the boom during the pandemic. The industry is unlikely to return to prior rates of growth once the normalization is complete, due to structural factors including lower alcohol consumption, the analysts say. Deutsche Bank upgrades the rating on the stock to hold from sell. Shares are down 1% at 21.42 pounds. (andrea.figueras@wsj.com)
(END) Dow Jones Newswires
March 03, 2025 04:26 ET (09:26 GMT)
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