Belgium: InBev "hold," target price reduced

Analysts at ING Financial Markets maintain their "hold" rating on InBev SA (ITK), Newratings reported March 27. The target price has been reduced from €74.8 to €73.5.

In a research note the analyst mentions that the company has posted its 4Q07 EPS growth ahead of the estimates. There are market worries regarding the problems associated with margin protection, volumes and barley costs that are being faced by the brewers, the analyst says. Although InBev continues to witness challenges in China, the US and the UK, it offers a high dividend, is operationally robust and is focused on growing its top-line, ING Financial Markets adds.

28 March, 2008