US: Molson Coors rating coverage upped

By | 14 June 2007

Molson Coors has had its share coverage raised.

UBS yesterday (13 June) said it was increasing its rating of the North American brewer to 'buy' from 'neutral', while maintaining a price target of C$106.

"Coors has demonstrated that US beer can grow through more effective marketing, strong distributor relationships, and effective retail execution - as indicated by Coors Light trends," Gajrawala said. "Given the increased scale and complexity of the Canadian business, we believe that Coors is just now starting to gain traction in this region."

Earlier this week, Molson Coors said it will launch a convertible senior note offer. The brewer hopes to use the majority of the estimated US$500m that will be raised from the offer to fund a tender offer by its Coors Brewing subsidiary to buy up to $450m of its outstanding 6% senior notes due in 2012.

Sectors: Beer & cider

Companies: Molson Coors

View next/previous articles

Currently reading -

US: Molson Coors rating coverage upped

There are currently no comments on this article

Be the first to comment on this article

Related articles

US/CANADA: Molson Coors director stands down

Molson Coors Brewing Co. has confirmed that one of its board directors has resigned.

CANADA: Molson withdraws Facebook contest

Molson Coors Brewing Co. has retracted an online marketing campaign in Canada with social networking website Facebook, because its message was being interpreted as promoting irresponsible drinking.

US: SABMiller, Molson Coors hit by anti-trust request

SABMiller and Molson Coors have been hit with an anti-trust request for its joint venture in the US.

just-drinks tagline

Not a member? Join here

Decrease font sizeDecrease font sizeDecrease font size Increase font sizeIncrease font sizeIncrease font size Comment on this article Email this to a friend Print this page