20 June, 2007

Netherlands: Heineken price target upped to 44 eur from 39 at SNS Securities

Heineken NV shares have been given a price target upgrade to 44 eur from 39 at SNS Securities on the company's recent international deals and the strengthening of the US dollar, AFX News reported June 19.

In a client note, SNS analyst Richard Withagen said he has increased his estimates following recent deals made by Heineken, including the purchase of a Czech brewery.

He also noted that as Heineken is sensitive to changes in the US dollar, the currency's recent strength is a positive development, "although the impact remains limited at this stage".

Saying that Heineken is optimising performance with solid trading conditions, the analyst reiterated his 'hold' rating on the share.

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