UK: InBev coverage shifted
InBev has had its rating shifted by Goldman Sachs.
The investment broker said today (1 June) that it was lowering its coverage of the brewer to 'neutral' from 'buy'. A price target of EUR64 remained unchanged.
Goldman Sachs said it remains positive about InBev, but a 62% rise in the share price in the last year has led it to cut its recommendation. The broker added that it sees a limited upside to InBev's 12 month target price, despite its first quarter results showing strong management skills.
The global brewer recently reported that net profit for the first three months of this year leapt by 69% year-on-year, reaching EUR280m (US$378.8m). Revenues rose 8.9% to EUR3.05bn from EUR2.79bn.
The Russian wing of InBev has been raided by the country's police this week....
The likelihood of a union between InBev and Anheuser-Busch has become a stronger possibility, following SABMiller's acquisition of Grolsch, according to a drinks analyst....
AmBev has reported a rise in its third quarter net profit helped by strong results from the premium segment....
InBev has reported a disappointing set of results for its third quarter....
AmBev has confirmed that it is looking to acquire the Cintra beer brand in Brazil....
InBev has unveiled an addition to its beer portfolio in Ukraine....
InBev has launched a television advertising campaign to its UK audience, focusing on the family heritage for its Artois beer brands....
InBev has announced that it has sold certain retail estate assets in the Netherlands and Belgium to Belgian property group Cofinimmo....
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