Diageo shares fell for a second consecutive session on the London Stock Exchange on Wednesday, still penalized by negative comments from Deutsche Bank.

After losing 0.4% yesterday, the British spirits group's share price has amplified its correction today, shedding 1.8%.

In a research note, Deutsche Bank analysts indicate that the stock is a "catalyst sell" ahead of the release of half-yearly results on January 30.

The research house, which is also lowering its target price for the stock from 2,470 to 2,450 pence, explains that the trend within the sector has continued to deteriorate since the group issued its warning on November 10.

This observation has led it to revise its earnings forecasts downwards, which were already below consensus, and to rule out any acceleration in the second half of the year, as the market is now forecasting.

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