Following Interbrew’s trading statement, Rabobank Securities has raised its recommendation for the Belgian brewer to “neutral” from “underperform”.
It also raised its price target to €21 from €16.
“We upgrade Interbrew …as Germany and Russia are performing better than expected. In addition, Interbrew has less transaction risk exposure to the dollar weakness compared to Heineken,” Rabobank said in a note.
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