Lehman Brothers has cut its rating on SABMiller from 'overweight' to 'equal-weight', according to dealers.

The broker said today (16 January) that rising raw material prices over the next year would put the brewer at risk, despite long-term growth potential.

Lehman Brothers lowered its earnings estimates for SABMiller by 4% and cut its target price by 4% to GBP14.50 (US$28.38) from GBP15.60.