SABMiller rose to a new high on Friday against a backdrop of bullish comment from drinks analysts. Deutsche Bank says the buoyant economic conditions within the South African brewer’s key markets should ensure double-digit profit growth in 2006 and 2007 despite the expectation that profits from Miller will be relatively flat. It lifted its target price from £10.50 to £12.50. JP Morgan suggested consensus earnings estimates are likely to rise, citing the continued growth of the Miller Lite brand in North America, an improvement in the Czech and Polish beer markets, strong economic conditions in sub-Saharan Africa and robust volume growth at its Asian joint venture. SABMiller will issue a first-half trading statement next month. The shares rose 11p to £10.99. The Times 01/10/05 page 64 (Larger Capitalisation Shares) The Daily Telegraph 01/10/05 page 37 (The Market)