RBC Capital downgraded Heineken to Underperform from Sector Perform with a price target of EUR 78, down from EUR 86. The company for several years has overestimated its premium brands’ pricing power and underappreciated the need to nurture those brands’ equity with sustained revenue investment, the analyst tells investors in a research note. The firm says the anticipated cost of revitalizing its portfolio will constrain margins so that by 2025 Heineken’s EBIT margin will be 210 points below 2022.
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Read More on HEINY:
- Heineken upgraded to Overweight from Neutral at JPMorgan
- Heineken (HEINY) Unveils Dividend Details for Q3: Mark Your Calendar!
- Heineken price target lowered to EUR 92 from EUR 95 at Barclays
- Heineken price target lowered to EUR 86 from EUR 93 at RBC Capital
- Heineken price target lowered to EUR 135 from EUR 145 at Deutsche Bank