UK: SABMiller "overweight" rating maintained, estimates rise

In a research note published on January 18, analysts at JP Morgan maintain their "overweight" rating on SABMiller plc, while raising their estimates for the company. The target price has been raised from 1240p to 1270p.

The analysts also mention that the company has reported its 3Q volumes significant ahead of expectations. SABMiller’s share price does not fully reflect the company’s robust and geographically balanced growth, the analysts say. The EPS estimate for FY08 has been raised from 140.3£ to 141.2£.

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