Citigroup, the investment bank, has upgraded its rating on shares in the Belgian brewing combine, Interbrew, to "outperform, medium risk" from "outperform, high risk". Citigroup also raised its price target for Interbrew from €22 to €26.50. Citigroup now expects Interbrew to outperform its Dutch rival, Heineken, said the bank. The company also raised its rating on Heineken from "underperform" to "in-line, low risk" and raised its price target for the Dutch brewer to €32.50 from €27.50.

13 August, 2003