Japan: Kirin Brewery to get a better rating

Morgan Stanley Analysts have upgraded Kirin Brewery from "equal weight" to "overweight." Thus the target price was raised from ¥1,130 to ¥1,560.

In a research paper released on December 8, the analysts mention that the demand for beer and beer-taste beverages is unlikely to decline in the medium term, partly due to recovery in the restaurant business.

The company is registering market share expansion and market share of its low-malt beer is expected to rise from 48% in FY05 to 51% in FY06, according to industry analysts.