Belgium: Investment bank Goldman Sachs reinstated coverage of InBev at outperform after suspending coverage because of investment banking conflict of interest. Bank analysts see Belgian brewer delivering "better earnings and cashflow growth than its peers and rising cash returns." Goldman thinks InBev can win big in Brazil and in the US with Brahma. Sees overall earnings growth of 19% in 2006 and 2007. Sets fair value at EUR36. InBev +0.1% to EUR27.4.

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