UK: SABMiller hat-trick of upgrades
Three different investment organisations have upgraded their ratings for SABMiller, following the brewer's strong full-year results.
Merrill Lynch upgraded the company to "buy" from "neutral" and issued price targets of 741 pence and 92 rand ($13.64) on Friday.
"The strength of these results and the subsequent alleviation of our main concerns by management at the analyst's presentation, are driving our upgrade," Merrill Lynch said. "Those concerns were the risk relating to the Miller turnaround, risks of further large value destructive acquisitions, and for non-South African investors the potential for rand weakness."
French bank Exane BNP Paribas also raised its target price for SABMiller on Friday to 700 pence a share from 610p and kept an "outperform" stance.
To complete the hat-trick, Credit Suisse First Boston lifted its rating on the company to "neutral" from "underperform". The bank also increased its price target on the stock to 630 pence from 565p.
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...
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...
The CEO of SABMiller has hailed the brewer's full-year figures as "very pleasing" today (19 May)....
SABMiller has seen its share rating upgraded....
Fresh rumours surrounding a possible bid for Scottish & Newcastle saw the brewer's share price rise sharply yesterday (18 May) morning....
SABMiller has agreed to acquire the Slovakian brewer Topvar. Topvar is located in the city of Topoľčany in Western Slovakia and sold 569,000 hectolitres of beer in 2004....
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