UK: Citigroup raises S&N targets
The bank Citigroup has raised its rating of UK-based brewer Scottish & Newcastle from "sell" to "hold". Analysts also increased the brewer's price target from 365p to 415p.
Earnings per share also increased to 32.9 pence from 32.6 in 2005 and to 35.5 pence from 35.2 in 2006.
The bank's analysts said that the increase was based on a rise in confidence that S&N wil succeed in the UK market, thanks to additional supply contracts in the on-trade.
- Most Valuable Spirits Brands in 2017 - The facts
- Most Valuable Beer Brands in 2017 - The facts
- Diageo Africa president O'Keeffe on beer & spirits
- Travel Retail needs a disruptor - Comment
- What the future looks like for Australian wine
- Diageo ready to lock horns with AB InBev in Africa
- Heineken sees Tesco pull SKUs in UK
- Fever-Tree eyes bumper NPD, pack formats for 2017
- Heineken mulls M&A with $1.75bn notes issue
- Diageo unveils Blender's Batch in the US
- Central and East Europe Report Package
- Battle of the Generations - The fight for iGen, Millennial, Gen X and Baby Boomer consumers
- Global vodka insights - market forecasts, product innovation and consumer trends
- Global Scotch insights - market forecasts, product innovation and consumer trends
- Spirit Market in the Top 5 European Countries to 2021 - Market Size, Development, and Forecasts