The investment bank, Citigroup, has upgraded its rating on shares in the Belgian brewing combine, Interbrew, from “outperform, high risk” to “outperform, medium risk”.
Citigroup said it now expects Interbrew to outperform its Dutch rival, Heineken. Citigroup also raised its price target for Interbrew from €22 to €26.50.
The company also raised its rating on Heineken from “underperform” to “in-line, low risk” and raised its price target for the Dutch brewer to €32.50 from €27.50.
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