The investment bank Dresdner Kleinwort Wasserstein has raised its rating on the Dutch brewer Heineken to "hold" from "sell". It has put a target of €37 for the shares.

In a research note, its analyst said: "Heineken now trades at a sustainable 9% premium to SABMiller and 11% to Scottish & Newcastle."

The investment bank Dresdner Kleinwort Wasserstein has raised its rating on the Dutch brewer Heineken to "hold" from "sell". It has put a target of €37 for the shares.

In a research note, its analyst said: "Heineken now trades at a sustainable 9% premium to SABMiller and 11% to Scottish & Newcastle."