Campari shares drop, analysts flag 'disappointing' Q3 sales in US
BUZZ-Campari shares drop, analysts flag 'disappointing' Q3 sales in US ** Shares in Italian spirits group Campari CPRI.MI fall around 7% as North American sales miss third-quarter expectations
** Organic sales in North America declined by 2.0% versus market expectations for a 2.6% growth, Citi says
** Citi notes that while European sales drove a slight beat overall, the weaker performance in the US offsets these gains, adding the results were "likely to be seen as disappointing"
** Equita cuts its rating on Campari to "hold" from "buy", lowering its PT by 7% to €7.1, citing a tougher US context and a need for more visibility on portfolio stabilisation
** The stock is at the bottom of Italy's blue-chip index .FTMIB; if losses hold it will see its worst day since May
** Out of 23 analysts that cover Campari, 14 rate the stock "strong buy" or "buy," 8 rate it "hold" and 1 rates it "sell" - LSEG data
(Reporting by Anna Uras)