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StocksMedium•31 March 2026•

1 min read

Deutsche Bank Upgrades Diageo to Buy Citing 20% Potential Upside

Key Facts

1Deutsche Bank upgraded Diageo PLC to a 'Buy' rating.

2The price target was cut to 1,650p from 1,790p.

3The bank believes the new target implies a 20% upside from current levels.

Deutsche Bank has upgraded its rating for Diageo PLC to 'Buy,' signaling confidence in the beverage giant's recovery potential. While the bank lowered its price target to 1,650p from 1,790p, it emphasized that current valuations offer a compelling entry point for investors. According to the analyst report, the revised target implies a significant 20% upside from the stock's current market levels. The upgrade follows a reset in market expectations, which the bank believes has created a more favorable risk-reward profile. Despite ongoing pressure on near-term earnings, Deutsche Bank suggests that the stock is well-positioned for a rebound as sentiment stabilizes. Diageo shares are primary listed on the London Stock Exchange (DGE.L) with ADRs trading in New York (DEO).

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