UK: SABMiller maintained "add" by analysts at Dresdner Kleinwort
Analysts at Dresdner Kleinwort maintain their "add" rating on SABMiller Plc. The target price is set to €20.56, Newratings posted on November 6th.
In a research note published this morning, the analysts mention that the company has released marginally disappointing 1H volumes, although its organic volume growth of 9% was impressive. The analysts believe that Miller remains a weak area, with declining volumes and would witness a margin decline of 50bp in 1H. The Bavarian operations generated robust volumes, on the back of lower prices in Peru and accelerating GDP growth in Colombia, Dresdner Kleinwort says.
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