USA: ING upgrading SABMiller to hold

ING has upgraded SABMiller to hold from sell, and lifted target to 1,100p from 840p following the better than expected 1Q results from Anheuser-Busch, according to Dow Jones.

It stated SABMiller will benefit from the same strong US pricing and larger than expected US profit pool. It noted also that the company is valued 7% above beer peer group.

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