BELGIUM: InBev sees share rating cut twice
Belgian brewing giant InBev has today (30 March) seen its share rating cut twice by industry analysts.
ING has lowered its rating on InBev to "hold" from "buy", noting uncertainty surrounding the level of the Brazilian real - which could hit its AmBev operations - and controversy over its cost-saving programmes in Western Europe.
"We see increasing risk in InBev. This is mainly related to further uncertainties regarding Brazilian economic policy. The perception of cost savings and product launches also raises the pressure," said ING.
The bank also lowered its target price on the stock from EUR44.7 (US$54.3) to EUR40.
Meanwhile, Morgan Stanley cut its rating on InBev to "equal-weight" from "overweight".
The moves come two days after around 2,000 workers protested at the brewer's HQ against its plans to shed jobs across Western Europe.
InBev has extended the deadline for the receipt of acceptances for the recommended offers of USD33.41 in cash for the remaining shares and Securities that it does not already own in SUN Interbrew (SIL...
The Brazilian brewer AmBev, now part of the InBev empire, said yesterday that its first quarter net income had fallen 52.7% to R$144.2m....
AmBev Peru is to launch a new beer in the market that will bring competition to a market so far dominated by the monopoly of Union de Cervecerias Peruanas Backus & Johnston SAA, or Backus....
InBev said yesterday that its General Shareholders Meeting of April 26, 2005 approved the annual accounts 2004, as well as the gross dividend of €0.39 proposed by the board of directors....
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...
Sun Interbrew has begun production of Hoegaarden in Russia....
Stella Artois is to launch a new global advertising campaign, according to press reports....
InBev has sold its majority stake in Bosnia's Uniline brewery, according to local reports....
- just The Preview - Diageo's FY preliminaries
- Analysis - SABMiller's Australian issues continue
- Focus - SABMiller's Q1 Performance by Region
- PepsiCo to consider more re-franchising - CEO
- PepsiCo find stability but Peltz concerns linger
- Diageo silent over Shuijingfang writedown report
- Diageo's Captain Morgan Facebook ad banned
- Sales, profits fall at Moet Hennessy in H1
- Champagne Nicolas Feuillatte appoints new CEO
- Molson Coors CEO to retire