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Broker snap: SABMiller and Britvic liked by JP Morgan
Mon, 01 Dec, 2008
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Broker snap: SABMiller and Britvic liked by JP Morgan
Fri, 10 Oct 2008, 10:31:00
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Related Market Prices
Name
Value
Percent
Change
SABMiller
1014.00p
-3.61%
Britvic
225.00p
-2.39%
C&C Group
1.07p
-10.83%
Diageo
885.00p
-2.43%
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US bank JP Morgan has taken a look at the European beverages sector and picked SABMIller, Britvic and Carlsberg as "the most attractively valued stocks".<br /><br />JP Morgan (JPM) said that growth in emerging markets is driving earnings improvements in the sector and although it has seen no evidence of a "sustained slowdown" across these markets, various individual markets are starting to show worrying signs of decelerating growth.<br /><br />"Volume growth may slow but should still be positive in emerging markets and we expect some pressures on financing inventory across the supply chain," the bank said.<br /><br />JPM has "overweight" recommendations on <b>SABMiller</b> and <b>Britvic</b>, with price targets of 1,310p and 330p respectively. <br /><br />It is underweight on <b>Diageo</b>, where it has a price target of 850p, and neutral on Magners cider group <b>C&C</b>, where its price target is €3.10.<br />
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