RBC Initiates C&C Group at Sector Perform with 160p Target

RBC Capital has begun coverage of C&C Group with a Sector Perform rating and a 160p price target, citing the drinks maker’s strong brand portfolio but warning of tough market conditions.

Analyst Tania Maciver said the company benefits from leading regional brands, though its exposure to challenging markets will limit upside in the near term.

The cautious stance contrasts with recent, more bullish calls from other brokers. Last month, Deutsche Bank raised its price target on C&C to 190p from 165p and reiterated a Buy rating, pointing to valuation support and recovery potential.

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Shares in C&C, the owner of Bulmers, Tennent’s and Magners, have had a difficult year, down 5.1% year-to-date and 12.4% over the past 12 months. The stock has fallen 20% in the last month alone, weighed down by concerns over weak consumer spending and cost pressures.

Despite recent volatility, analyst sentiment remains broadly constructive. TradingView data shows four analysts with Buy ratings and three with Hold, with no Sell recommendations.

The average consensus price target of 196p implies meaningful upside from current levels.

Investors will be watching closely to see whether C&C can stabilise earnings and rebuild confidence after a sharp recent selloff. While RBC highlights the strength of its brands, the firm’s initiation note underlines that challenging trading conditions are likely to remain a headwind in the near term.