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(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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