UK: Rating shift for SABMiller
SABMiller has seen its share rating upgraded. UBS has raised its recommendation for the brewer to 'buy' from 'neutral.' The move follows the announcement earlier today (19 May) of strong full-year figures by the London-based company.
SABMiller this morning posted pre-tax profit of US$2.19bn, beating analysts' expectations of between US$2bn and US$2.1bn and last year's US$1.39bn.
UBS noted that consensus-beating EPS was driven by better-than-expected performances in South Africa, Europe and Central America, with Miller and Africa and Asia in-line.
UBS said that it believes the company is in the early stages of a volume pick up from the rest of Africa supported by underlying GDP growth. In Europe, UBS said, the brewer is taking share in key markets such as Poland. While UBS predicts a tough year for profit growth in the US, the broker emphasised that Miller only accounts for 10% of its five-year incremental EBITA growth.
UBS also raised its target price for SABMiller to 1,000 pence from 940p.
JP Morgan, however, maintained its 'overweight' stance on the company, saying that the brewer has the best organic sales and profit growth rate in the industry while having a rating still below its lower growth peers.
Having recorded a third consecutive year of volume, margin and earnings growth, global brewing force, SAB Miller, was in a position to give shareholders a 27% dividend increase and eye the acquisition...
SABMiller is to begin buying into Slovakian brewery Topvar, according to local reports....
Rumours that SABMiller is poised to launch a bid for Empresarial Bavaria swept the trading floor yesterday (2 June)....
The Indian subsidiary of SABMiller, MBL Investments (Mysore), has acquired the Shaw Wallace Group's 50% interest in the brewing operations of SABMiller's Indian joint-venture....
The German-owned investment house, Deutsche Bank, has upgraded shares in the UK-based international brewing group, SABMiller, from "hold" to "buy", and raised its target for the shares from 830p to 95...
Kompania Piwowarska (KP) has posted its figures for the year to 31 March....
The CEO of SABMiller has hailed the brewer's full-year figures as "very pleasing" today (19 May)....
Fresh rumours surrounding a possible bid for Scottish & Newcastle saw the brewer's share price rise sharply yesterday (18 May) morning....
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