The Investment bank Lehman Brothers has cut its price target for UK brewer Scottish & Newcastle to 400 pence a share from 470p. The bank though did not revise its recommendation on the shares, which remains at “underweight”.
Lehman also cut the brewers earnings per share forecast for 2004 by 25%.
“The recommendation remains unchanged at “underweight” within the context of a neutral recommendation on the sector as a whole,” a spokesman for the bank commented.
Sign up for our daily news round-up!
Give your business an edge with our leading industry insights.
Just Drinks Excellence Awards - Have you nominated?
Nominations are now open for the prestigious Just Drinks Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!
Nominate Now
