Credit Suisse First Boston (CSFB) investment bank, has upgraded the German brewer, Holsten Brauerei, to "outperform" from "neutral" on the back of the predicted consolidation in the German brewing sector. CSFB doubled its target price on Holsten to €44 based on speculation that the major shareholder may sell all or part of his 48% stake in the brewer.

18 July, 2003