Heineken: Credit Suisse raises target price

(CercleFinance.com) - Credit Suisse reiterates its "outperform" rating on theHeineken share, having increased its corresponding target price from 97 euros to 105 euros, in line with respective hikes in EPS estimates for 2020-22 (9%, 9% and 4% respectively).


The broker justifies the expected increase in EPS by "better pricing and volume trends in Nigeria and Brazil, and a quicker pace of group margin recovery".

Credit Suisse sees "a higher-quality, medium-term earnings growth algorithm, underpinned by superior top-line growth, with cost efficiencies giving greater flexibility to balance re-investment and operating leverage than in the past".


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