UK: SABMiller price target raised twice
SABMiller has had its price target raised by both CSFB and Deutsche Bank. The upgrades followed a presentation by the company to institutional investors in London yesterday.
CSFB today raised its target to £6.75 from £6.30, while Deutsche Bank lifted its price aim to £6.80 from £6.20.
Although CSFB was impressed by SABMiller's 'holistic' approach to its European business, it said the main reason behind its decision to rise its price target was the continued strength of the South African Rand.
Deutsche Bank cited positive trends for its Miller business and reassuring comments from the brewer on its European businesses. "The feature of SABMiller over the last year has been exceptional earnings momentum and at this stage there is little sign of a slowdown," the broker said. Deutsche Bank kept its 'hold' rating on the company.
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....
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....
SABMiller has had its share recommendation upped....
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