28 June, 2006

UK & South Africa: SABMiller’s "overweight" rating maintained by JP Morgan Securities

Analysts at JP Morgan Securities maintain their "overweight" rating on SABMiller plc (BRW1.ETR), while raising their estimates for the company, Dow Jones Newswires communicated June 27. The target price is set to 1140p.

In a research note published June 27, the analysts mention that the company's share price has been under pressure on account of unfavourable currency effects. The ongoing currency volatility is likely to continue to exert pressure on SABMiller's share price going forward, the analysts say. The EPS estimates for FY08 and FY09 have been raised by 1% to 142.8c and 163.3c, respectively, to reflect revisions in minorities.

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