Heineken: Eventual Margin Improvement Can Drive Attractive Returns
HEINYHeineken(HEINY) Seeking Alpha·2024-09-04 00:23
wallix/iStock Editorial via Getty ImagesDespite reporting softer volumes in some of its key emerging markets, I thought global brewer Heineken (OTCQX:HEINY)(OTCQX:HINKF) was good value when I covered it last October. Granted, the global beer market doesn't have the best growth prospects out there - low single-digits per annum is as good as it gets - but with Heineken well-positioned towards pockets of higher long-term growth, a then-multiple of around 17x EPS looked like a reasonable deal. The stock's p ...