UK: Lehman Brothers cuts SABMiller rating
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.
Trevor O'Hoy tended his resignation as chief executive officer of Fosters last week (10 June) after 33 years tenure with the company. His resignation, although sudden, comes amid a period of trying ti...
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