UK: ABN Amro lowers Cadbury rating
Investment bank ABN AMRO has lowered its rating on the UK's food and soft drinks group Cadbury Schweppes Plc to "add" from "buy" on Tuesday, but raised its price target to 540 pence from 500p.
"We see further upside given the discount to both peer and DCF (discounted cash flow) valuations, as well as the positive momentum behind consumer stocks, but insufficient upside to justify retaining a buy recommendation," ABN AMRO analyst Julian Hardwick said in a research note.
Cadbury-Schweppes has insisted that the disposal of its European soft drinks businesses is not indicative of a move away from soft drinks, but analysts see the group focusing increasingly on confectio...
Cadbury Schweppes has agreed to sell its European beverages business....
PepsiCo has refused to comment on reports linking the company with a bid for Cadbury Schweppes' soft drink business....
The European arm of drinks group Cadbury Schweppes is expected to be sold next month for around GBP1.1bn ($1.9bn), according to press reports....
UK-based soft drinks to sweets group Cadbury Schweppes has issued a trading update ahead of an investor seminar to be held in Dallas, Texas on 10 and 11 October....
Cadbury Schweppes is moving ever closer to selling off its European soft drinks business, according to German press reports....
Rumours are circling that Cadbury Schweppes' soft drinks business may be merged with Britvic....
Cadbury Schweppes Americas brand Mott's has announced a new line of fortified beverages....
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