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June 15, 2020, 10:08 a.m. EDT

Diageo downgraded and Heineken upgraded as Credit Suisse prefers beers to spirits

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By Steve Goldstein

Credit Suisse lowered its rating on Diageo /zigman2/quotes/208129584/composite DEO +1.48% /zigman2/quotes/205611832/delayed UK:DGE +0.78% to neutral from outperform, while it upgraded Heineken /zigman2/quotes/205347870/delayed NL:HEIA +0.56% to outperform from neutral. The broker said beer is outperforming spirits across most major markets excluding the U.S., and premium beer in emerging markets "is now a more credible trade-down alternative to premium spirits, in particular scotch." Beer also is less exposed to restaurant and travel, the brokerage said.

/zigman2/quotes/208129584/composite
US : U.S.: NYSE
$ 182.27
+2.65 +1.48%
Volume: 485,643
May 20, 2022 4:00p
P/E Ratio
25.55
Dividend Yield
2.16%
Market Cap
$102.69 billion
Rev. per Employee
$683,116
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/zigman2/quotes/205611832/delayed
UK : U.K.: London
3,598.00 p
+28.00 +0.78%
Volume: 3.34M
May 20, 2022 4:35p
P/E Ratio
27.67
Dividend Yield
2.06%
Market Cap
£82.37 billion
Rev. per Employee
£497,283
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/zigman2/quotes/205347870/delayed
NL : Netherlands: Euronext Amsterdam
89.42
+0.50 +0.56%
Volume: 475,097
May 20, 2022 5:35p
P/E Ratio
15.49
Dividend Yield
1.39%
Market Cap
€51.48 billion
Rev. per Employee
N/A
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