BELGIUM: More movement on S&N's recommendation
Two investment analysts have altered their recommendations on Scottish & Newcastle.
Following rumours of brewery closures in the UK, S&N has seen its recommendation shifted by a number of analysts this week.
ING investment bank has upgraded its recommendation to "hold" from "sell", saying that the brewer appears to have solved its supply problems in the UK. In a research note released yesterday, ING said: "We reward S&N's earlier-than-expected UK recovery, its Russian exposure and its clear focus on integration.
"What we … like is increasing proof of S&N's commitment to less acquisitions and its focus on internal growth," it added.
Meanwhile, Panmure, part of investment bank Lazard, has cut its rating on S&N to "sell" from "hold", with a price target of 335 pence. No further details were given.
Dresdner Kleinwort Wasserstein yesterday moved its rating for the brewer to "sell" from "hold".
- Industry is following the pack to patriotic party
- The category today - Scotch Whisky I
- Today's Market Trends - Scotch Whisky II
- Tomorrow's Market Trends - Scotch Whisky III
- Key Brands Performance - Scotch Whisky IV
- Brown-Forman shuffles director pack
- Diageo unveils first European Johnnie Walker House
- Spirits can fill music industry gap - Jagermeister
- Wm Grant redesigns Glenfiddich 21yo Gran Reserva
- Consumers want brands that challenge them - study
- Global RTD insights - market forecasts, product innovation and consumer trends
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends
- Soft Drinks Global Overview: Growth Opportunities Between Category Lines
- Adultifying Soft Drinks; Capitalizing on rising adult demand for non-alcoholic beverages
- Global travel retail insights - market forecasts, product innovation and consumer trends