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RBC Capital lowers target price on C&C Group
(Sharecast News) - Analysts at RBC Capital Markets lowered their target price on alcoholic drinks manufacturer C&C Group from 160p to 130p on Thursday, stating headwinds had delayed the firm's recovery. RBC Capital noted that C&C's recovery timeline has now extended, with FY26/27 now seen as transition years as management restructures operations.
However, the Canadian bank said C&C's strategic exit from its low-margin distribution business should enhance portfolio quality, while its branded division's leading regional market positions and its €150m shareholder return program offer downside support.
"We believe management's strategic update in May will be critical for establishing a F2028E+ growth pathway," said RBC, which has a 'sector perform' rating on the stock. "Our revised forecasts align with management's €70-73m operating profit guidance, reducing our price target to £1.30."
Reporting by Iain Gilbert at Sharecast.com
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