Heineken has had its recommendation downgraded, while Allied Domecq has been raised.
Panmure, part of investment bank Lazard, yesterday dropped the Dutch brewer to "sell" from "hold" and cut its price target to €27 from €32.

Panmure raised its stance on Allied Domecq to "buy" from "hold" and upped its target price on the British stock to 470 pence from 395p.

The investment bank declined to give reasons for its changes.