The rating on SABMiller brewery was cut by the investment bank Credit Suisse First Boston from "neutral" to "underperform" with a 480 pence share price target. "Miller Lite is driving the recent gains, but the turnaround is not yet in sight,” Credit Swiss said in a research note. "AC Nielsen supermarket data for August and September shows a sizeable up-tick in Miller Lite's performance. While this coincides with new low carb ads, we believe it is more a function of increased short-term promotional activity and is not sustainable.”

19 November, 2003