The investment bank, BNP Paribas, has upgraded its recommendation on the Dutch brewing combine, Heineken, from “underperform” to “neutral”, saying that the recent decline in the share price was exaggerated.
“Following the stock’s 14% decline since the beginning of the year, our per-share target price now offers 17% potential,” BNP said. “Consequently, we believe the stock warrants an upgrade from ‘underperform’ to ‘neutral’ relative to both the sector and Europe.”
