Fevertree Drinks PLC (LON:FEVR) was downgraded to underweight from neutral by JP Morgan due to lingering COVID-19 pressures to top-line and margins.
Analysts said the more profitable on-trade demand, which includes restaurants and bars, faces risks such as re-closures in parts of the US.
READ: Fever-Tree says sales growth still bubbly as it acquires German distributor[hhmc]
The stock, which has rocketed 150% from mid-March lows outperforming the sector up only 28%, “appears to price in a seamless recovery in financial year 2021, including continued share/distribution gains in the US and Europe over the mid-term”.
The mixers producer's target price was bumped up to 1,900p from 1,260p reflecting the outperformance.
The six months to June 30 are exRead More – Source
[contf]
[contfnew]
Proactiveinvestors
[contfnewc]
[contfnewc]