As Interbrew's shares fell by 8% on Friday, KBC Securities announced that it had upgraded the Belgian brewing group from "accumulate" to "buy". On Friday, Interbrew's share price closed at €26. KBC said it was retaining its 12-month share price target for the company of €32.

Meanwhile, Merrill Lynch has upgraded its recommendation on UK drinks group Diageo to "strong buy" from "buy".