The investment bank, Credit Suisse First Boston (CSFB), has raised its price target on the international brewing combine, SABMiller, from Ј4.20 to Ј4.50 following the brewer's upbeat trading statement on Monday. CSFB retained its "neutral" rating on the stock.
The investment bank, UBS, has raised its price target on shares of the international brewing group, SABMiller Plc, from Ј5.25 to Ј5.45. The bank based its decision on an improvement in the company's European growth outlook and currency movements which were positive for the brewer. UBS has retained its "buy" rating on SABMiller shares. The move follows a decision yesterday by investment bank, CSFB, to raise its price target on SABMiller from Ј4.20 to Ј4.50 following the brewer's upbeat trading statement on Monday
SABMiller, the second largest brewer in the world, said on Monday that it had had a "strong" five-month period to 31 August 2003, with the European, South African and Africa and Asian businesses each delivering good earnings growth. However, the US Miller division continued to struggle.
03 October, 2003
