1100 GMT - Questions remain around Diageo's trajectory ahead, UBS analyst Sanjeet Aujla tells investors in a note. The U.K.-based drinks giant this month set out a strategy overhaul and new guidance. This "gives management sufficient bandwidth to rewire the organization and to improve competitiveness," Aujla says. Still, investors will likely be looking for proof of recovery in the U.S. spirits market, or of overperformance in its rest of the world division, he says. "We don't think these proofs points are forthcoming in the next six to 12 months," Aujla says. UBS keeps a neutral rating on Diageo stock, lifting its target price to 1,850 pence from 1,600 pence. Shares are down 1.8% at 1,705 pence.
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