23 January, 2004

Canadian brewer Molson Inc. has seen its share upgraded by the US-based investment analyst Raymond James. Analyst Raymond Lai upped his rating on Molson shares to "outperform" from "underperform" and held a 6-to-12-month target price of C$36.00. “The move follows a fall in Molson’s share price by 13% in less than a week, presenting a good buying opportunity,” the analyst said. Molson’s shares fell following a cut in the company’s fiscal 2004 forecast last week. "Molson Canada's operations have significant margin upside through cost reductions, sustained pricing increases, improved marketing and promotion spending, and operating leverage," Lai wrote in a morning note.

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