(News Bulletin 247) – Jefferies reaffirms its ‘buy’ recommendation on Heineken with a price target raised from 115 to 120 euros, expecting the stock to revalue ‘as confidence in Heineken’s potential increases’ .
According to the broker, the Dutch brewer is ‘at the early stage of a multi-year program which is designed to deliver superior and profitable growth, while improving capital efficiency’.
“The 2022 results provided evidence that the change theme is on track, which is a key catalyst for converting Heineken’s attractive revenue outlook into profitable growth,” he continued.
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