We maintain our Sell recommendation on Simonds Farsons Cisk plc (“SFC” or the “Group”). After updating our expectations and reflecting the FY 2019 results we increased our 12-month price target from €7.30 to €9.59. The increase in our price target is attributable to the Group’s recent year-on-year improved financial performance and outlook of measured growth, in line with the expectations for a mature company. Over recent years, SFC has included the addition of new branded beers and spirits to their beverage portfolio, which has brought success in terms of revenue growth. Read our full report HERE.