SABMiller’s rating has been downgraded. Brokerage Investec yesterday moved its rating for the company to ‘hold’ from ‘strong buy’, following a recent strong run for the shares.

“Our hold recommendation reflects our view that the share will struggle to outperform the market on a 12-month view,” analysts wrote in a research note.

Investec kept a price target of 750 pence on the brewer’s stock.

07 July, 2004