UK: ABN Amro cuts S&N rating
Meanwhile, WestLB Panmure has recommended investors switch out of Danish-based brewer, Carlsberg, and into S&N. The bank retained its "outperform" rating on S&N shares and its price target of 405p.
"We recommend selling Carlsberg as there's significant headroom for missing the 2003 forecasts," Stuart Price, analyst at Panmure, said in a research note.
Price added that S&N had strategic options and was a possible takeover target. "We believe that, within the context of the consolidation of the global brewing industry, S&N looks like a sitting duck and a value investment," he said.
Carlsberg has finally hooked up with a state-owned Vietnamese brewer....
Carlsberg has entered into negotiations with the IBM Group regarding a possible outsourcing of the Danish brewer's IT services in Europe....
Carlsberg's rating has been lowered following its disappointing Q1 figures earlier this week....
Carlsberg said today that global beer volume showed a 20% increase in the first quarter of the year driven by strong organic growth in BBH as well as a considerable contribution from acquisitions, inc...
Carlsberg has appointed a managing director for its Chinese operations....
Carlsberg has increased its ownership in Carlsberg Brewery Malaysia Berhad from 49.66% to 51%. The investment amounts to approximately US$6m....
Dutch brewer Heineken is rumored to have released a self-chilling beer can....
The Bosnian government has put a majority stake in the country's brewery Banjalucka Pivara up for sale. Previous efforts to privatise the brewer have failed....
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