Heineken: UBS reiterates buy rating
(CercleFinance.com) - UBS believes that the downward earnings revision cycle is coming to an end, as the situation is improving.
The analyst reiterates his buy recommendation on the share, leaving his target price unchanged at E85n, representing 22% upside potential for the Dutch brewer's stock.
Fourth and first-quarter volumes are expected to remain disappointing, but EBIT/EBIT expectations look correct, UBS says.
Several greenshoots in key emerging markets and lowered expectations may help the share to recover thanks to a more consistent execution across the income statement, the broker summarises.
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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.
The analyst reiterates his buy recommendation on the share, leaving his target price unchanged at E85n, representing 22% upside potential for the Dutch brewer's stock.
Fourth and first-quarter volumes are expected to remain disappointing, but EBIT/EBIT expectations look correct, UBS says.
Several greenshoots in key emerging markets and lowered expectations may help the share to recover thanks to a more consistent execution across the income statement, the broker summarises.
Copyright (c) 2024 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.