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CANADIAN BEER REPORT: BOTTOM-FEEDERS EYE LABATT STOCK
Published January 9, 1995
On Friday, stock buyers were "scooping up the previously languishing shares" of John Labatt Ltd. and Molson Cos. on the Toronto Stock Exchange. Both stocks have been trading near 52- week lows recently, so analysts "believe investors might be buying up the depressed stock and betting on improved future earnings by the companies." Some analysts also said the potential for a solution to the NHL lockout "might also" have been a factor. Labatt owns Canada's cable sports channel, TSN, which carries NHL games (Stephen Northfield, Montreal GAZETTE, 1/7). Labatt is holding a taste test in Canadian provinces for its new Labatt Copper beer. Consumers will taste Labatt X & Y and vote their preference. The winner will be announced during the Super Bowl (Toronto GLOBE & MAIL, 1/6). HERE COME THE CLYDESDALES: Anheuser-Busch announced that Budweiser sold more than one million U.S. barrels in Canada last year, the first time any U.S. brand has hit the one million mark. With more than 6% of the Canadian market, Budweiser is the 3rd- largest selling beer in Canada, behind Labatt Blue and Molson Canadian (TORONTO STAR, 1/7).