06:31 AM EDT, 08/06/2026 (MT Newswires) -- Berenberg upgraded its earnings forecasts for Heineken (HEIA.AS) after the company's organic growth during the first half came in ahead of expectations. In a research note published Thursday, analysts said the Dutch brewer's first-half organic volume growth of 0.4% and organic net sales growth of 2.7% surpassed consensus estimates of a 0.2% decline and 2.4% increase. Organic operating profit for the period also climbed 6.7%, above the consensus of a 3.3% rise, with Asia-Pacific, Africa and the Middle East leading the "strong beat." "We view Heineken as the fastest-growing brewer from a top-line perspective, given its optimal geographical footprint. This beneficial footprint, combined with Heineken's latent cost-savings potential, can be highly potent for earnings growth, in our view. As volume growth improves, we believe that Heineken should be capable of consistently delivering high-single-digit earnings growth, which is not reflected in its EV/EBIT valuation of 11.9x for FY27," analysts said. As such, the research firm raised its earnings estimates by 2.5% for 2026 and 2.3% for 2027. It also expects Heineken to record a 1.1% volume growth in 2026, with an increase in organic net sales and organic operating profit of 3.3% and 5.5%, respectively, alongside a 10% annual EPS growth. Berenberg maintained the stock's buy rating and price target of 101 euros.

Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.