55/100BDiageo stock forecast 2027–2031
Analysts' average 12-month price target for Diageo is 91.00, 8.8% below the current price of 99.74. Their targets range from 83.00 to 99.00.
Of the 7 firms that rated Diageo in the past 12 months, 3 rate it buy or strong buy, 3 hold and 1 sell or strong sell (each firm at its latest rating): a Hold consensus.
Analysts' 1-year price targets range from 83.00 to 99.00, with an average of 91.00.
| Strong buy | 0 | |
| Buy | 3 | |
| Hold | 3 | |
| Sell | 1 | |
| Strong sell | 0 |
12-month price target
| Highest target | 99.00 |
| Average target | 91.00 |
| Lowest target | 83.00 |
| Current price | 99.74 |
Diageo price target history
How analysts rate Diageo, month by month
3 of 7 firms rate it buy now, against 1 of 5 in December 2025.
Each month: every firm at its latest rating from the 12 months before. Strong buys count as buys, strong sells as sells.
Diageo analyst upgrades, downgrades and price targets
The latest rating change came on 26 June 2026, when TD Cowen upgraded Diageo from Hold to Buy. The most recent new target came from Morgan Stanley on 26 October 2026: 83.00.
| Date | Firm | Rating | Price target | Change | Price then |
|---|---|---|---|---|---|
| 26 Oct 2026 | Morgan Stanley | Reiterated · Underweight | 83.00 | — | 95.97 |
| 26 Jun 2026 | TD Cowen | Upgraded · Hold → Buy | — | — | — |
| 18 Jun 2026 | Loop Capital Markets Andrea Pistacchi | — | 99.00 | — | 78.84 |
| 31 Mar 2026 | Deutsche Bank | Upgraded · Hold → Buy | — | — | — |
| 25 Mar 2026 | Exane BNP Paribas | Upgraded · Underperform → Neutral | — | — | — |
| 2 Mar 2026 | HSBC Securities | Downgraded · Buy → Hold | — | — | — |
| 6 Jan 2026 | RBC Capital Mkts | Upgraded · Sector Perform → Outperform | — | — | — |
| 29 Dec 2025 | Bernstein Trevor Stirling | — | 124.00 | — | 86.56 |
| 3 Dec 2025 | UBS | Downgraded · Buy → Neutral | — | — | — |
Diageo EPS and revenue estimates
Analysts expect Diageo's EPS to grow 34.2% a year until 2029. Over the last 5 years it fell 6.6% a year, and over the last 3 years it fell 20.5%.
Analysts expect Diageo's revenue to grow 0.1% a year until 2029, slower than over the last 5 years (9.0% a year) and the last 3 years (6.5%).
Revenue
EPS
Does Diageo beat earnings estimates?
On average, analysts' EPS estimate was 4.8% off the result, either way, and their revenue estimate 3.0%, over the last 12 quarters.
- EPS beats
- 7 / 14
- Revenue beats
- 12 / 14
- Average EPS surprise, last 12
- +2.8%
- Since
- January 2020
| Quarter | Report date | EPS estimate | Reported EPS | Surprise | Revenue estimate | Reported revenue | Surprise |
|---|---|---|---|---|---|---|---|
| H2 FY2026 | 6 Aug 2026 | 2.55 | 2.80 | +9.8% | 9.15B | 9.18B | +0.4% |
| H1 FY2026 | 25 Feb 2026 | 3.67 | 3.80 | +3.5% | 10.53B | 10.46B | -0.6% |
| H2 FY2025 | 5 Aug 2025 | 2.48 | 2.64 | +6.5% | 9.33B | 9.34B | +0.1% |
| H1 FY2025 | 4 Feb 2025 | 4.25 | 3.91 | -8.0% | 10.75B | 10.90B | +1.4% |
| H2 FY2024 | 30 Jul 2024 | 2.85 | 2.84 | -0.4% | 9.19B | 9.31B | +1.3% |
| H1 FY2024 | 30 Jan 2024 | 4.43 | 4.31 | -2.7% | 10.80B | 10.96B | +1.5% |
| H2 FY2023 | 1 Aug 2023 | 3.35 | 3.32 | -0.9% | 10.03B | 9.71B | -3.2% |
| H1 FY2023 | 26 Jan 2023 | 4.86 | 4.86 | 0.0% | 11.19B | 11.64B | +4.0% |
| H2 FY2022 | 28 Jul 2022 | 2.72 | 3.19 | +17.3% | 8.25B | 9.09B | +10.2% |
| H1 FY2022 | 27 Jan 2022 | 4.49 | 4.57 | +1.8% | 10.48B | 10.66B | +1.7% |
| H2 FY2021 | 29 Jul 2021 | 2.59 | 2.66 | +2.7% | 7.93B | 8.19B | +3.3% |
| H1 FY2021 | 28 Jan 2021 | 3.55 | 3.70 | +4.2% | 8.69B | 9.43B | +8.6% |
Diageo stock price 2027–2031: scenarios
If Diageo's earnings keep growing at the 4.5% a year analysts expect to FY2029, it would earn about 8.23 a share in FY2031. At the P/E it has traded at over the last five years (18.2 to 25.8) that is 149.73 to 212.07 a share, or 186.26 at its average P/E of 22.6. This is arithmetic on the analysts' estimates, not a prediction.
| Fiscal year | EPS | Bear | Base | Bull |
|---|---|---|---|---|
| FY2027 | 6.67 | 121.39 | 151.01 | 171.94 |
| FY2028 | 7.05 | 128.31 | 159.61 | 181.73 |
| FY2029 | 7.54 | 137.07 | 170.50 | 194.14 |
| FY2030 (extrapolated) | 7.88 | 143.26 | 178.21 | 202.91 |
| FY2031 (extrapolated) | 8.23 | 149.73 | 186.26 | 212.07 |
Each year's EPS is the analysts' consensus to FY2029; the years after continue its 4.5% a year. Bear, base and bull apply the lowest, average and highest P/E of the last five fiscal year ends (18.2, 22.6, 25.8).
Is Diageo stock undervalued or overvalued?
Diageo's P/E of 32.0 is near the top of its 5-year range (16.8 to 48.7, median 24.0). Analysts do not expect faster growth than in recent years, so it is expensive compared with its own history. Fair value is not a reliable guide for Diageo: its earnings swing (EPS fell 38.7% in FY2025), so its usual P/E would mislead. Its forward P/E, on the consensus for FY2027, is 14.9.
- Price to earnings ratio (TTM)
- 31.97
- Five-year median P/E
- 23.95
- Five-year P/E range
- 16.8 – 48.7
- Forward P/E (FY2027)
- 14.94
- PEG ratio
- 7.08
- To the average target
- -8.8%
Most undervalued US stocks
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| 99.090 | 195.10146Price 99.09244 | +96.9% | |
| 186.680 | 359.93270Price 186.68450 | +92.8% | |
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| 108.445 | 201.41108Price 108.45248 | +85.7% |
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