Cazenove advises selling Diageo shares at 843p (829p this week). The broker says the stock is overvalued and notes that on its earnings forecasts for 2006, the company’s shares are currently at a 15% premium to the FTSE 100, and virtually level with a beverage sector containing many stocks with more attractive opportunities. Cazenove recently downgraded its stance on the stock from positive to negative. The Daily Telegraph (Your Money) 28/01/06 page 2 (What the brokers say)

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