Heineken : RBC upgrades its rating to 'in-line performance'.

(CercleFinance.com) - RBC announced on Wednesday that it had upgraded its opinion on Heineken shares from 'underperform' to 'performs in line with the sector', after the company's annual results 'ticked all the boxes'.


According to the Canadian broker, the 2024 accounts unveiled this morning by the Dutch brewer went beyond the usual results publication.

From this point of view, Heineken not only exceeded consensus expectations last year, he points out, but also launched a share buyback program and unveiled a rising marketing expenditure/sales ratio, confirming that the management team has decided to invest in the brand.

We don't want to overreact to an earnings release, but many of the factors that led to our previous unfavorable opinion on the stock seem to have been resolved", stresses the broker, who is simultaneously raising his price target from €75 to €80.

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