Heineken: Bryan Garnier maintains estimates

(CercleFinance.com) - An analyst at Bryan Garnier today says that he is confirming "Buy" rating on the Heineken stock, as well as his fair value of 99 euros.


The analyst is sticking to his model, even though he has cut some estimates for the coming years.

“We have lowered our 2019 and 2020 operating profit forecasts by 3% following additional commodity pressures from increased aluminium and barley prices. However, we expect no additional negative impact from currencies as the strengthening of the USD, the Nigerian Naira and the Asian currencies (against the euro) is compensating for additional weakness in Latin American currencies,” the broker explained.



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