Magners tipped for 8% growth

IRISH drinks group, C&C is being tipped to boost volume growth of its Magners cider brand by 8% in Britain in its current financial year, with one investment bank increasing its share price target for the group.

In a detailed research report on the Dublin and Clonmel-based group, JP Morgan Cazenove said it was upgrading the C&C stock from ‘neutral’ to ‘overweight’ and was upping its share price target, for the group’s current fiscal year, from €3.50 to €4.

C&C’s share price was up by 6c — or just over 1.6% — at €3.60 yesterday.