Heineken's Macro Headwinds Likely to Reverse in 2024 -- Market Talk

Dow Jones03-04

0857 GMT - 2024 is likely to be a better year for Heineken after the group faced two years of macro-related issues, Barclays analysts Laurence Whyatt and Mandeep Sangha say in a note. The brewer previously cut its 2023 guidance due to Russia's invasion of Ukraine, which caused high inflation in a number of raw materials, and the slowdown in Vietnam, they say. Furthermore, various currency devaluations have hit profitability, the analysts add. "With 2023 being a very difficult year, we see this trend reversing, and believe that Heineken has learned its lesson on guidance," they say. Barclays raises its rating on the stock to overweight from equal weight and its target price to EUR101 from EUR81. Shares are up 1.0%, but down 13% on a 12-month basis. (michael.susin@wsj.com)

(END) Dow Jones Newswires

March 04, 2024 03:57 ET (08:57 GMT)

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Furthermore, various currency devaluations have hit profitability, the analysts add. \"With 2023 being a very difficult year, we see this trend reversing, and believe that Heineken has learned its lesson on guidance,\" they say. Barclays raises its rating on the stock to overweight from equal weight and its target price to EUR101 from EUR81. Shares are up 1.0%, but down 13% on a 12-month basis. 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The brewer ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"HEINY","symbol_name":"Heineken N.V.","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2416199861","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2416199861","pubTimestamp":1709542620,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0857 GMT - 2024 is likely to be a better year for Heineken after the group faced two years of macro-related issues, Barclays analysts Laurence Whyatt and Mandeep Sangha say in a note. 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