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Campari Cut To Neutral At Merrill Lynch
LONDON — Campari shares on Thursday were downgraded to neutral by Bank of America Merrill Lynch on the belief that the stock’s rally has run its course. Merrill lifted its earnings estimate for the spirits company but cautioned that there are better investments in the consumer staples sector. Analyst David Tovar said that mergers and acquisitions could lead to some upside suprise but for now, Campari shares are trading at a “marginal premium” relative to its peers.
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