10 January, 2007

UK: SABMiller "overweight," target price raised by J.P. Morgan Securities

Analysts at JP Morgan reiterate their "overweight" rating on SABMiller Plc, while raising their estimates for the company, Newratings communicated on January 8th. The target price has been raised from 1,110p to 1,240p.

In a research note published on January 5, the analysts mention that trading at five of the company’s six divisions has been robust. Demand for beer is expected to increase from 2007 onwards due to favourable macro-economic trends, the analysts say. The valuation multiples of SABMiller’s stock is expected to expand going forward, given the possibility of the company achieving higher-than-peer sales CAGR for FY07-FY09, JP Morgan adds The EPS estimates for FY07 and FY08 have been raised from $1.19 to $1.2 and from $1.35 to $1.4, respectively.

Înapoi

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