Heineken’s Outlook Remains Robust
Veronique Adam submits:
Stock price: €35.4 ($48.21 US)
Conclusion: Reiterate our positive stance on Heineken (HINKY.PK). Bottom line preserved thanks to pricing combined with tight cost control. Recent M&A initiatives lead to great medium term prospects in Latam, India and South Africa. Raising our valuation range to €42-€44 per share.
2009 results: 4% above forecasts. Sales up 2.7% to €14.7bn, broadly flat organic. EPS up 4%. Earnings up 18% organic. No guidance given for 2010.
Investing, Long Term Investment, stock market | admin February 27, 2010
RSS feed for comments on this post.
