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InBev has had its earnings estimate raised. JP Morgan said today (4 February) that it has upped its estimate for the brewing giant for the period up to 2006, and boosted its price target on InBev to €26 from €21.

The investment bank said that it has increased its 2004 earnings per share estimate by 7% to €1.77 and by 10% and 13% to €1.92 and €2.14 for 2005 and 2006 respectively.

"The principal reason for the upgrade is a strong performance from AmBev since the completion of the Interbrew/AmBev combination in the late summer of 2004," JP Morgan said.

It kept its "underweight" rating on the stock.


Sectors: Beer & cider

Companies: Anheuser-Busch InBev

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