Heineken Can Show Mettle with 3Q Growth

Dow Jones10-20 18:01

1001 GMT - Heineken can prove it is on track to sustained better performance, analyst Edward Mundy at Jefferies writes in a note to clients. The Dutch brewer should next report organic growth of 1.8% in volumes for the third quarter, with consolidated revenue growth of 3.5%, according to a company-compiled consensus of analysts' estimates. Consensus also now expects a higher organic operating profit for the full year. "We see deep change underway at Heineken," Mundy says, pointing to likely sharper execution under new CEO Rafael Oliveira, who took the reins at the start of this month."As confidence in Heineken's compounding potential builds, shares should re-rate," Mundy says. Jefferies has a buy rating and a 105 euro target on the stock.

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