Dutch brewing giant, Heineken, has seen its recommendation downgraded. Panmure, part of investment bank Lazard, dropped on January 28 the Dutch brewer’s ratings to “sell” from “hold” and cut its price target to €27 from €32.

Meanwhile, Allied Domecq has seen its ratings raised. Panmure increased its stance on Allied Domecq to “buy” from “hold” and upped its target price on the British stock to 470 pence from 395p. The investment bank declined to give reasons for its changes.

04 February, 2004