UK: Lehman raises SABMiller targets
Lehman Brothers has increased its target price on global brewer SABMiller. The investment bank raised the target to 1,500 pence from 1,230.
In a research note Lehman Brothers maintained its 'overweight' rating on the UK-based brewer. It added that future M&A activity in the sector would be good for beer stocks.
The note said that SABMiller is likely to seek discrete regional acquisitions to fill gaps in its portfolio, adding that it thought Russia a high priority for the company.
Lehman also raised its 2008 EPS estimate on SABMiller 5%. The 2009 and 2010 forecasts have increased by 6 pct and 8 pct respectively, to reflect that investment.
Rising raw material costs have been a feature of numerous companies' results over the past few months. As Jessica Harvey writes, some companies have been able to bolster themselves against this trend ...
SABMiller has ruled out speculation that it is looking to list in the US next year....
SABMiller has plans to seek approval from the Autoriteit Financiele Markten (AFM) with regards to its current offer for Grolsch....
SABMiller has taken a stake in Royal Grolsch NV, according a recent filing....
Pacific Beverages, the joint venture between SABMiller and Coca-Cola Amatil, has acquired a brewer in Australia....
Coca-Cola Amatil has upped its profit forecast for the second half of this year....
Scottish & Newcastle has confirmed its plans for its first brewery in Vietnam....
Scottish & Newcastle has declined to comment on speculation suggesting it will sell its Kronenbourg lager brand....
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