Russian Vodka Tax Increase Appears To Be Off The Table (CEDC)

Jefferies is telling investors that there will not be a vodka tax increase in Russia and to Buy Central European Distribution Corp. CEDC. Reports indicate that the sharp increase in vodka excise taxes recently discussed by the Russian Finance Ministry is off the table. CEDC shares have fallen almost 10 points since the Russian vodka tax was 1st highlighted. Jefferies has reiterated their Buy rating and $37.50 price target. During today's trading session, CEDC has fallen 3.18% to $20.70. Central European Distribution Corporation (CEDC) operates primarily in the alcohol beverage industry. It is a producer of vodka and in Central and Eastern Europe’s integrated spirit beverages business. CEDC’s business primarily involves the production and sale of its own spirit brands (principally vodka), the importation on a basis of a variety of spirits, wines and beers and the distribution of alcoholic beverages.