Heineken: Jefferies still buying ahead of trading update

(CercleFinance.com) - Jefferies confirms its 'buy' recommendation and E110 target price for Heineken shares, noting that the brewer is at the start of a multi-year change program to drive superior growth with margin expansion.


Ahead of the Dutch group's Q1 2024 trading update, scheduled for 24 April, the broker says it anticipates a robust start to the year, with organic growth of +2.5% for volumes and +6.5% for sales.

The momentum of strong earnings in H2 2023 in Europe and America should naturally continue in H1 2024, putting Heineken on the right footing to both meet forecasts and reinvest, it continues.


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