US: CSFB cuts SABMiller rating
The investment bank Credit Suisse First Boston has cut its rating on SABMiller to "underperform" from "neutral" with a 480 pence share price target.
Although the bank's analysts said the strong rand would boost first-half results, they said this was already priced in and the shares were currently expensive.
In a research note Credit Swiss said: "Miller Lite is driving the recent gains, but the turnaround is not yet in sight."
It continued: "AC Nielsen supermarket data for August and September shows a sizeable up-tick in Miller Lite's performance. While this coincides with new low carb ads, we believe it is more a function of increased short-term promotional activity and is not sustainable."
Having recorded a third consecutive year of volume, margin and earnings growth, global brewing force, SAB Miller, was in a position to give shareholders a 27% dividend increase and eye the acquisition...
The UK market is developing in terms of sales and sophistication. Drawing on up-to-the-minute consumer research, Alex McPhee, Neville Calvert and David Matthews of management consultants, KPMG, examin...
Dairy, functional and premium juices were the winners, water continued to grow, whilst carbonates and squashes lagged behind in the 2004 UK soft drinks race, according to the recently published Britvi...
Rumours that SABMiller is poised to launch a bid for Empresarial Bavaria swept the trading floor yesterday (2 June)....
The Indian subsidiary of SABMiller, MBL Investments (Mysore), has acquired the Shaw Wallace Group's 50% interest in the brewing operations of SABMiller's Indian joint-venture....
The German-owned investment house, Deutsche Bank, has upgraded shares in the UK-based international brewing group, SABMiller, from "hold" to "buy", and raised its target for the shares from 830p to 95...
The CEO of SABMiller has hailed the brewer's full-year figures as "very pleasing" today (19 May)....
SABMiller has seen its share rating upgraded....
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