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UK: Deutsche downgrades S&N

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Analysts at Deutsche Bank have lowered their rating of Scottish & Newcastle from "buy" to "hold".

In a research note, the bank said made the adjustment because the UK-based brewer was within 2% of its 500 pence price target.

The note added that Deutsche Bank still had faith in S&N's rejuvenation story. It said, however, that the French and UK markets remained.


Sectors: Beer & cider

Companies: Scottish & Newcastle

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