Australia: Beer volumes of Foster’s are to increase in the first half of 2006; shares up

JPMorgan ups its forecast for Foster's CUB division. Expects improved beer volumes in 1H06 on warmer weather and a reduced risk of price competition in premium beer from new entrants, Dow Jones Newswires communicated on January 5.

Improved forecast partially offset by downgrades to Australian wine export volumes in the U.S. and Europe, it says. Ups valuation 3% to A$5.55, keeps Neutral rating. Last trade A$5.53, down 4 cents.

05 January, 2006