Social media putting young people off alcohol, C&C warned

Social media culture is putting people off alcohol, posing challenges to Bulmers-maker C&C, analysts at investment bank Berenberg have told clients. Shares in the company fell 2.6pc in Dublin yesterday after the analysts cut their rating on the company’s stock to ‘sell’. C&C’s stock has been boosted since its acquisition of UK wholesaler Matthew Clark Bibendum, but Berenberg believes market expectations for the company are too high. It says the company’s drinks brands – including Bulmers and Magners cider and Tennent’s lager – are facing structural challenges due to demographics….

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