Analysts downgrade A-B & Coors ratings.Salomon Smith Barney Smith Barney is a division of Citigroup Global Capital Markets Inc., a global, full-service financial firm, that provides brokerage, investment banking and asset management services to corporations, governments and individuals around the world. analysts last week cut Anheuser-Busch's rating from "buy" to "outperform Outperform An analyst recommendation meaning a stock is expected to do slightly better than the market return. Notes: Exact definitions vary by brokerage, but in general this rating is better than neutral and worse than buy or strong buy. ," and the Coors Brewing Co.'s rating from "outperform" to "neutral." The analysts raised A-B's target price from $47 to $52, but said that the company's 25% stock price appreciation year-to-date contributed to the rating downgrade Downgrade A negative change in the rating of a security. Notes: For example, an analyst may downgrade a stock from strong buy to buy, or a bond rating agency may downgrade a bond from AAA to AA. . In addition, they expressed concerns that imported beers will continue to take share from domestics, helped by a narrowing price gap. Salomon analyst Jennifer Solomon cut her rating on Coors, in part because of rising import share, but also because she said there is potential for better sales at Miller Brewing Company Miller Brewing Company is the second largest American beermaker and is based in Milwaukee. It is owned by SABMiller. Miller owns breweries in Albany, Georgia; Chippewa Falls, Wisconsin; Eden, North Carolina; Fort Worth, Texas; Irwindale, California; Milwaukee, Wisconsin and , a unit of Philip Morris. In the report, the Coors price target remained at $69. |
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