The investment bank, BNP Paribas, has announced that it has upgraded its recommendation on the Dutch brewing combine, Heineken, to "neutral” from "underperform". The bank said 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. Consequently, we believe the stock warrants an upgrade from 'underperform' to 'neutral' relative to both the sector and Europe," BNP said.

10 June, 2003