Heineken Can Eye Performance, Share Boost Ahead

Dow Jones08-06

0711 GMT - A fresh pair of hands at the top of Heineken should boost delivery and support a share recovery at the Dutch brewer, Edward Mundy at Jefferies writes in a note to clients. The maker of Amstel and Desperados, as well as its namesake lager label, booked better-than-expected volumes and earnings growth for the first half, despite admitting some weakness in the Americas and Europe. New CEO Rafael Oliveira, due to take over in October, will meanwhile bring a "fresh pair of eyes and renewed energy for delivery," Mundy says. "We see deep change underway at Heineken as the company sharpens execution and harvests cost savings," he says. Jefferies has a buy rating and a target of 100 euros on the Amsterdam-listed stock. Shares are up 0.1% at 79.50 euros.

 

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