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Fly News Breaks for February 4, 2020
DEO
Feb 4, 2020 | 08:23 EDT
Argus analyst John Staszak downgraded Diageo to Hold from Buy, saying the company is seeing weak demand in the alcoholic beverage market as changing consumer preferences, rising costs, and tariff impact are weighing on sales. The analyst adds that Captain Morgan rum is seeing weak demand, while tariffs have impacted sales of the company's scotch- malt and Bailey's liqueur brands. Staszak also lowers his FY20 and FY21 EPS views for Diageo by 8c and 20c to $7.10 and $7.50.
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