UK: SABMiller maintained "add" by analysts at Dresdner Kleinwort
Analysts at Dresdner Kleinwort maintain their "add" rating on SABMiller Plc. The target price is set to 20.56, Newratings posted on November 6th.
In a research note published this morning, the analysts mention that the company has released marginally disappointing 1H volumes, although its organic volume growth of 9% was impressive. The analysts believe that Miller remains a weak area, with declining volumes and would witness a margin decline of 50bp in 1H. The Bavarian operations generated robust volumes, on the back of lower prices in Peru and accelerating GDP growth in Colombia, Dresdner Kleinwort says.