Fevertree Drinks (AIM:FEVR) investors were neither shaken nor stirred as the maker of mixers gave a short update, alongside its AGM, and analysts at Deutsche Bank highlighted that it is comfortable with FY24 expectations.
“The business is growing in each of its regions reflecting new product innovation and good momentum in its wider drinks portfolio,” analyst Damian McNeela
“RoW is benefitting from a weaker comp last year but we note better performance here is unlikely to drive material changes at a group level.
“We’re encouraged with the solid start to the year while remaining cognisant that the summer remains the key trading period for the business.”
Deutsche has a ‘buy’ rating for Fevertree, with a price target of 1,600p suggesting more than 47% upside to the current price of 1,083p.