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UK: UBS downgrades SABMiller

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The investment bank UBS has downgraded brewer SABMiller to "neutral" from "buy", prompting a weakening of the group's share price.

UBS said it had made the move following a strong share price performance.

However, UBS upgraded the brewer's 2006 EPS estimate by 2% to US$1.147 to reflect the continued rand/usd strength.

However, due to the strength of the pound against the dollar, the broker has downgraded its sterling EPS by 4%.
 
Previously 950 pence, UBS now has a 940 pence target on SABMiller.


Sectors: Beer & cider

Companies: SABMiller

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