UK: Morgan Stanley downgrades Cadbury
A tough US market has caused investment bank Morgan Stanley to downgrade its recommendation on the UK's Cadbury Schweppes Plc to "neutral" from "outperform".
However the banks fair value remains at 510 pence per share.
"There are more challenges ahead for 2002. This is particularly true for U.S. beverages, where competition will stay tough and Cadbury will have to step up innovation and marketing," Morgan Stanlay said in a note.
Companies: Cadbury Schweppes
Cadbury-Schweppes has insisted that the disposal of its European soft drinks businesses is not indicative of a move away from soft drinks, but analysts see the group focusing increasingly on confectio...
Cadbury Schweppes has agreed to sell its European beverages business....
PepsiCo has refused to comment on reports linking the company with a bid for Cadbury Schweppes' soft drink business....
The European arm of drinks group Cadbury Schweppes is expected to be sold next month for around GBP1.1bn ($1.9bn), according to press reports....
UK-based soft drinks to sweets group Cadbury Schweppes has issued a trading update ahead of an investor seminar to be held in Dallas, Texas on 10 and 11 October....
Cadbury Schweppes is moving ever closer to selling off its European soft drinks business, according to German press reports....
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