16 May, 2007

UK: SABMiller’s shares on rise

SABMiller inched higher Monday after JP Morgan kept the brewing giant as ‘overweight’ and said its discount to peer InBev was undeserved, according to Sharecast, May 14.

“Given that the stock is delivering best-in-class organic volume, sales and EBITA growth this is unwarranted in our view,” said the broker.

It added that input cost pressure is seen weighing heavily on Miller, but brand initiatives at Bavaria are likely to deliver strong top-line growth.

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