Diageo: Reset Underway, Valuation Attractive Despite Near-Term U.S. Weakness

Core Viewpoint - The results of Diageo (DEO) are not disappointing, but the decline in stock price is difficult to justify [1] Group 1: Company Performance - This is the first earnings report since Dave Lewis became CEO [1] - The stock price reaction appears to be inconsistent with the company's performance [1] Group 2: Analyst Position - Analysts have a beneficial long position in the shares of DEO and DGEAF through various means [2]