Heineken: RBC upgrades stock

(CercleFinance.com) - On Thursday RBC upgraded its rating on Heineken shares from "underperform" to "sector perform", increasing its corresponding target price from 77 euros to 91 euros.


In a report, the broker points out that large brewers have tended to lose market share in recent years to spirits groups.

The analyst attributes this to an overemphasis on M&A and a lack of investment in brands.

The situation is set to change with the arrival of Dolf van den Brink, the Dutch group's new CEO, who wants to focus on a more organic approach by strengthening the marketing strategy, both in qualitative and quantitative terms.


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