InBev has had its price target raised by one investment bank but seen its recommendation lowered by another. Delta Lloyd Securities yesterday (14 July) upped its target on the brewer to €35 from €32 following better-than-expected first half volume growth, announced earlier this week.

WestLB, on the other hand downgraded InBev to 'underperform' from 'neutral' on valuation grounds.

While Delta Lloyd reiterated its 'buy' rating, WestLB kept its €30 target price for the company's shares.

WestLB said that it believes full year growth expectations are now priced in and delivery above this will be significantly harder in the second half of this year.