UK: UBS upgrades SABMiller
The investment bank UBS has upgraded the UK-based brewer SABMiller to 'buy' from 'neutral'.
In a research note, the bank said that two thirds of SABMiller's total volume comes from emerging markets, with some 56% EBITA coming from low volume growth markets, namely South Africa and the US.
UBS said it believes the group's mix improvements and real pricing in these markets, alongside underlying growth in Europe, Africa and Asia can drive annual growth of 12% in EBITA from 2003 to 2007.
As a result of this increased margin assumption, UBS aloso upgraded its EPS estimates by 4% for 2005 to 92.8 US cents and by 7% for 2006 to US$1.03.
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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