Heineken: shares rise after Jefferies upgrade
(CercleFinance.com) - Shares in Heineken rise more than 2% after Jefferies raised its rating to "buy" from "hold," expecting the shares to re-rate as the recovery comes through.
In a note to clients, the analysts said they see "superior" topline growth, with earnings and margins recovering from on-trade bounce-back or cost cutting.
Jefferies also raised its target price on the stock, from 75 euros to 95 euros.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
In a note to clients, the analysts said they see "superior" topline growth, with earnings and margins recovering from on-trade bounce-back or cost cutting.
Jefferies also raised its target price on the stock, from 75 euros to 95 euros.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.