Merrill Lynch has also raised its 2002 earnings per share (EPS) estimate for Heineken by 2.4% to €2.06 and its 2003 estimate by 2.8% to €2.24, on the back of better-than-expected volumes in the US, an upturn in performance in Poland and growth in Russia.
THE NETHERLANDS: Merrill Lynch upgrades Heineken
Investment bank, Merrill Lynch, has upgraded its intermediate-term rating on the Dutch brewing group, Heineken, from "neutral" to "buy" and has set a 12-month price target of €48. The bank has a long-term "buy" rating on Heineken.
September 3, 2002