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

Credit Suisse lowered its rating on Diageo /zigman2/quotes/208129584/composite DEO -0.27% /zigman2/quotes/205611832/delayed UK:DGE -0.44% to neutral from outperform, while it upgraded Heineken /zigman2/quotes/205347870/delayed NL:HEIA -0.14% 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.

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Diageo PLC ADR

US : U.S.: NYSE

$ 178.66

-0.49 -0.27%

Volume: 229,368

March 27, 2023 4:00p

P/E Ratio

23.46

Dividend Yield

2.02%

Market Cap

$99.21 billion

Rev. per Employee

$727,539

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Diageo PLC

UK : U.K.: London

3,583.00 p

-16.00 -0.44%

Volume: 1.75M

March 27, 2023 4:35p

P/E Ratio

22.92

Dividend Yield

2.17%

Market Cap

£81.14 billion

Rev. per Employee

£592,303

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Heineken N.V.

NL : Netherlands: Euronext Amsterdam

€ 97.60

-0.14 -0.14%

Volume: 716,418

March 27, 2023 5:35p

P/E Ratio

20.99

Dividend Yield

1.77%

Market Cap

€56.26 billion

Rev. per Employee

N/A