UK: CSFB favours SABMiller and InBev
SABMiller PLC and InBev have had their ratings upgraded. CSFB has today (6 September)upped the two brewers to 'outperform' from 'neutral', dealers said.
In a note to clients, CSFB argued that both SABMiller and InBev should be able to deliver volume growth of 3% to 4% in the medium-term - 2004 to 2006 - given their exposure to emerging growth markets.
CSFB also said SABMiller and InBev offered the best growth, margin and cash generation in the brewing sector.
CSFB said it had lifted its price target on SABMiller to 785 pence from 730p, and lifted its target on Inbev to €31 from €25.
The global roll-out of InBev's Brazilian beer, Brahma, adds a third premium brand to the global brewer's international portfolio but some observers have suggested it's an unnecessary step which threat...
InBev, the world's largest brewer by volume, said it has achieved overall organic volume growth of 4.1% in the first quarter of 2005, to 47.3m hectolitres, despite tough conditions in the US and Weste...
InBev has sold its majority stake in Bosnia's Uniline brewery, according to local reports....
InBev has made an offer to acquire the remaining minority interests in its Russian business SUN Interbrew Ltd (SIL) that it doesn't own, at a price of US$33.41 in cash per security....
China Resources Snow Breweries Limited (CR Snow) has entered into an agreement with the Fuyang City government to acquire the assets of the Fuyang City Snowland Brewery Company in Anhui province for U...
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....
Following its recent re-launch in the UK, SABMiller has introduced its Italian lager brand Peroni Nastro Azzurro to the Romanian market....
San Miguel Brewery Hong Kong has secured a deal to distribute InBev's products in the city and neighbouring Macau....
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