Brewery Stocks in 2004

It was a pretty darn good year for beer industry stocks, particularly for SABMiller and Adolph Coors. Here is our take on what the stocks did in 2004, and how investors view the brewers after I made the rounds with several buy-siders and investors last week in New York.A-B. A-B had a rougher time of it as it came into the year with a higher price-to-earnings base and mature earnings-per-share growth, not to mention stagnant share growth in the latter