TD Cowen Upgrades Diageo plc to 'Buy' with New Price Target
TD Cowen raises Diageo's rating to 'buy' and sets a $93 price target, a 15.70% upside from the current price.
Key Points
- TD Cowen upgraded Diageo plc to a 'buy' rating with a $93 target on June 26, 2026.
- TD Cowen's $93 price target implies 15.70% upside from Diageo plc's ($DEO) current $80.38 share price.
- Shares of NYSE:DEO traded near $82.61 on Friday, with a market cap of approximately $45.9 billion.
- FMR LLC increased its DEO holdings by 281,414 shares, totaling about 6.99 million shares worth $520 million.
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TD Cowen has upgraded Diageo plc (NYSE: DEO) to a 'buy' rating and set a new price target of $93. This change was announced on June 26, 2026. Diageo's shares were trading around $82.61 on Friday.
TD Cowen vs. the S&P 500
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What Changed in TD Cowen's Diageo Position
TD Cowen's decision to upgrade Diageo to a 'buy' rating reflects an optimistic outlook on the company's potential. The firm has set a price target of $93, though the previous target was not specified.
Other Institutional Activity in Diageo
FMR LLC increased its holdings in Diageo by 281,414 shares, bringing its total to approximately 6.99 million shares valued at about $520 million. ORBIS Allan Gray Ltd made a significant move as well, adding 1,962,748 shares for a total of 3.7 million shares worth $275 million, marking a 113% increase. Bank of America Corp also grew its position by 103,531 shares, reaching a total of 2.91 million shares valued at $217 million. Equity Investment Corp added 330,838 shares, ending with 1.47 million shares worth $109 million, a 29.1% increase. Meanwhile, Bank of Montreal cut its stake by 726,429 shares, reducing its total to 1.45 million shares valued at $108 million, a 33.4% decrease.
Diageo plc Stock Down 13.6%
Shares of Diageo plc (NYSE: DEO) traded close to $82.61 on Friday. The company boasts a market capitalization of approximately $45.9 billion and has a P/E ratio of 19.08 and a forward P/E of 13.01. Diageo's stock has a 52-week low of $72.45 and a high of $116.41, with a 50-day moving average of $81.38 and a 200-day moving average of $87.76. The company maintains a current ratio of 1.60 and a quick ratio of 0.57, with a debt-to-equity ratio of 177.38.
$DEO price target
Past daily closes and this analyst's 12-month price target. Not investment advice.
Recent Earnings
Diageo reported revenue of $19.8 billion, though it experienced a slight revenue decline of 4%. The company's earnings per share (EPS) stand at $4.33, with a net margin of 12.2% and a return on equity (ROE) of 19.7%. The next earnings report is expected on August 6, 2026.
Dividend
Diageo offers an annual dividend rate of $3.32, providing a yield of 4.02%. The company's dividend payout ratio is relatively high at 95.64%.
Analysts Set New Price Targets
On June 26, 2026, TD Cowen upgraded Diageo to a 'buy' rating with a $93 price target. The consensus among analysts is a 'buy' rating, with a mean target price of $99.71 based on seven analyst opinions.
About Diageo plc
Diageo plc, headquartered in London, United Kingdom, is a global leader in the production, marketing, and distribution of alcoholic beverages. The company operates across North America, Europe, Asia Pacific, Latin America and the Caribbean, and Africa. Diageo's portfolio includes well-known brands such as Johnnie Walker, Guinness, Smirnoff, and Baileys. It was incorporated in 1886 and is led by CEO Sir David John Lewis, employing over 29,000 people worldwide.
Bottom Line
TD Cowen's upgrade of Diageo to a 'buy' rating with a $93 target price highlights growing confidence in the company's prospects. Diageo's stock is closely watched by investors for its strong brand portfolio and global reach. As always, it's important to remember that analyst ratings are based on past data and may not reflect current market conditions.
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