Heineken: UBS still a buyer, cutting target price
(CercleFinance.com) - UBS maintains its "buy" rating on Heineken shares, while reducing its target price for them from E115 to E110.
However, note that its new target price still represents 34% upside potential for the Dutch brewer's shares.
"Despite softer trends in Europe and Vietnam, the downside risk to current consensus expectations for EBIT is limited, in our view", the broker says, which expects around a 4% decline in Q3 2023 volumes.
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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.
However, note that its new target price still represents 34% upside potential for the Dutch brewer's shares.
"Despite softer trends in Europe and Vietnam, the downside risk to current consensus expectations for EBIT is limited, in our view", the broker says, which expects around a 4% decline in Q3 2023 volumes.
Copyright (c) 2023 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.