Photo: Business Insider
Americans are getting drunk off vodka, whiskey and tequila again according to a Citi report, though beer is clearly the cheaper drink of choice.Beer still has the upper hand with 49.8% of the market share according to Reuters, but spirits drew some money away and came in second with 33.3% of the market. That compares to sub 33% market share last year.
Whiskey consumption has gone up and clearly America makes it well, since it also accounts for the country’s largest spirits export.
But you could make money off alcohol too. With spirits set to grow up to 3% this year, Brown-Forman which puts out Jack Daniel’s, is Citi’s stock pick. The company looks to grow and is trading well at P/E of 17x, well below its historical average.