Credit Suisse Downgrades Diageo, Vodka Volumes Weakest In A Decade

Analyst Nicholas Sochovsky at Credit Suisse on Monday, April 28, 2014, downgraded its rating on shares of Diageo DEO from Outperform to Neutral. Shares of the company are up $0.73 or 0.60 percent to $122.62 per share. The firm stated this, “After we lower our 2015 EPS forecast by -8% to 101p on weaker organic growth in US and EM, more FX headwinds and higher investment requirements.” The firm also cited management facing numerous challenge, Vodka volumes being the weakest in a decade in the US, and low EPS growth in 2014-15. Despite this downgrade, shares of the company still ended up higher after hours on Monday.