27 January, 2006

Belgium: InBev "buy," target price raised

Analysts at ING Financial Markets maintain their "buy" rating on InBev, while raising their estimates for the company. The 12-month target price has been raised from EUR 37.20 to EUR 43.00, ING Financial Markets posted on January 25.

In a research note published this morning, the analysts mention that the company has agreed to acquire Fujian Sedrin for EUR 614 million. Fujian Sedrin holds a leading market position in the Fujian and Jiangxi provinces, the analysts say. InBev expects €95 million in cost synergies and EUR 15 million in sales synergies from the acquisition, ING Financial Markets adds.

The EPS estimates for FY2006 and FY2007 have been raised from €2.08 to €2.18 and from EUR 2.42 to EUR 2.53, respectively.

Înapoi

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