Campari rises as Barclays upgrades Aperol-maker to 'overweight'

Shares in Italian spirits group Campari CPRI.MI are up 2.2% after Barclays upgrades the Aperol-maker to "overweight" from "equal-weight", saying its portfolio "plays well into current trends"

The brokerage says Campari is placed to benefit from the trends towards moderation, affordable premium purchasing and convenient consumption

"We believe (Campari) will be able to outperform the US spirits market, particularly with the roll-out of Aperol," it adds, estimating the drink can grow at a strong double-digit percentage rate in the U.S.

CEO Simon Hunt's experience at William Grant & Sons will be invaluable at Campari, Barclays adds

It hikes Campari's target price by 30% to 7.9 euros per share, versus current price of around 6 euros per share

Out of 22 analysts that cover Campari, nine rate the stock "strong buy" or "buy",​ 11 "hold" and two "strong sell" or "sell" - LSEG data

($1 = 0.8611 euros)