Belgium: KBC Downgrades InBev to reduce

KBC downgrades its rating for InBev to reduce from accumulate because of the rise in the company's share price above its EUR49 target and foreign exchange risks to earnings, Newratings published December 1. "The recent depreciation of the Brazilian real versus the euro increases the risk on the earnings outlook," analyst Wim Hoste says. Target price is unchanged at EUR49. Shares trade at EUR49.83, +0.6%. (PBL)

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