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SAM - Beer Seen as Less Risky Than Spirits During the COVID-19 Pandemic
Boston Beer Company Inc.
The novel coronavirus pandemic makes Diageo(NYSE: DEO) a riskier investment because of its exposure to the travel and tourism industry.
Credit Suisse analyst Sanjeet Aujla told investors in a note that he favored brewers over distillers right now because spirits are more apt to be consumed in restaurants and bars than beer. He downgraded Diageo's stock to neutral from outperform as a result.