UK: CSFB has upped on September 6 the rating of the two brewers, SABMiller PLC and InBev, to ‘outperform’ from ‘neutral’, dealers said. In a note to clients, CSFB argued that both SABMiller and InBev should be able to deliver volume growth of 3% to 4% in the medium-term - 2004 to 2006 - given their exposure to emerging growth markets. CSFB revealed SABMiller and InBev offered the best growth, margin and cash generation in the brewing sector. CSFB added it had lifted its price target on SABMiller to 785 pence from 730p, and lifted its target on Inbev to €31 from €25.

08 September, 2004