Belgium: InBev upgraded to "add" by analysts at Dresdner Kleinwort Wasser

Analysts at Dresdner Kleinwort Wasserstein upgrade InBev (ITK.MUN) from "hold" to "add." The target price is set to €40, Dow Jones Newswires communicated June 27.

In a research note published June 27, the analysts mention that the company’s share price has recently been under pressure, while there is no evidence of a slowdown in trading in Russia and Brazil. InBev’s 1Q beer volumes in Brazil rose 8% and growth in 2Q has been at a similar pace, the analysts say. Dresdner Kleinwort Wasserstein expects the company to achieve margins of 31% and 32.6% in 2006 and 2007, respectively.

E-malt.com, the global information source for the brewing and malting industry professionals. The bi-weekly E-malt.com Newsletters feature latest industry news, statistics in graphs and tables, world barley and malt prices, and other relevant information. Click here to get full access to E-malt.com. If you are a Castle Malting client, you can get free access to E-malt.com website and publications. Contact us for more information at marketing@castlemalting.com .