E-Malt.com News article: 1698

Morgan Stanley, the US bank, has cut its third-quarter and full-year 2004 earnings per share estimates for the US brewer Adolph Coors. Morgan Stanley analyst William Pecoriello said the brewer was “facing challenges on several fronts”. The bank has changed its estimate for the company's EPS in the third quarter to US$1.38 from US$1.59 and its 2004 EPS forecast to US$4.35 from US$4.58. The entire beer industry continued to have "sluggish" volume in August and September, and market share trends at Adolph Coors "deteriorated" last month, Pecoriello said In a research report.

21 October, 2003