Heineken: Credit Suisse upgrades stock
(CercleFinance.com) - Credit Suisse announced on Monday that it has upgraded its rating on the Heineken share from "neutral" to "outperform," while raising its target price from 83 euros to 96 euros (about 18% upside potential).
In a research report, the broker explains that it believes that the Dutch brewer is well placed to improve its competitive positioning in the economic crisis by increasingly focusing on its costs and margins.
However, Credit Suisse acknowledges that its choice may seem "counter-intuitive" in view of recent position taking by investors, which have resulted in an increase in short positions.
The beer stock seems to be pretty flat in Amsterdam on Monday morning, outperforming a market that is down about 1.5%.
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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 research report, the broker explains that it believes that the Dutch brewer is well placed to improve its competitive positioning in the economic crisis by increasingly focusing on its costs and margins.
However, Credit Suisse acknowledges that its choice may seem "counter-intuitive" in view of recent position taking by investors, which have resulted in an increase in short positions.
The beer stock seems to be pretty flat in Amsterdam on Monday morning, outperforming a market that is down about 1.5%.
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.