InBev has had its share rating increased. ING said today (17 September) that it has upped its coverage of the brewer to 'buy' from 'hold,' in the belief that the company will be successful in its drive to cut costs. ING also raised its price target on InBev to €37.3 from €30.3.

In a research note, ING said: "InBev is increasingly confident of exceeding cost savings through Zero Base Budgeting (ZBB) measures.

"With a free cash flow yield of 8% for 2007 (earnings forecast) and a discount cash flow per share of €41, we raise our rating."

ING added that it sees more growth in Brazil and favourable currency rates helping InBev going forward.