Bernstein analysts say European beverage stocks are showing a solid rebound.
Beer names Carlsberg and Heineken have risen as volumes show signs of recovery;
Rémy Cointreau advanced after a well-received recovery plan. Spirits majors
Diageo and Pernod Ricard are lagging. Bernstein prefers beer over spirits given
continued weakness in the key US spirits market. Analysts add that valuations
across the group look attractive at current levels.
