BofA lifts Campari to 'buy', cites Aperol Tap launch success
BUZZ-BofA lifts Campari to 'buy', cites Aperol Tap launch success ** BofA Global Research raises its rating on Italy's Campari CPRI.MI to "buy" from "hold"
** It cites successful launch of its popular Aperol Spritz drink on tap, US rollout of Sarti Rosa cocktail, and faster expansion into new markets
** Aperol Tap launch in Italy materially exceeded Campari management's expectations, BofA says
** It estimates the cocktail innovation contributed to about 1% to Q2 sales growth, expects more to materialize from Q3 on
** It now sees organic sales growth growing to between 4-5% from FY27, cost efficiencies supporting margin expansion, and an annual EPS growth rate of around 10% through 2030
** Out of 22 analysts that cover Campari, 13 rate the stock "strong buy" or "buy," eight rate it "hold" and one rates the stock "sell" - LSEG data
(Reporting by Mirko Miorelli)