The firm called the brewer a 'relatively defensive stock for the current environment.'
Anheuser-Busch InBev is approaching a margins inflection point, supporting a stock rerating for the world's largest beer maker, according to Bank of America. Analyst Andrea Pistacchi upgraded shares to buy from neutral. She also issued a price target of $68 for the company's U.S.-listed shares. The new price target on shares implies 27% upside from Thursday's close.
She added that a higher cost of doing business as a result of the company's commercial transformation is largely baked into the stock. . "With the portfolio transformation well advanced in many markets and BEES rolled out at scale , we believe that ABI is in a good position to leverage its strong market positions, particularly in LatAm, into better profit growth going forward," Pistacchi said.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bank of America CEO says Fed has won the near-term battle against inflation By ReutersBank of America CEO says Fed has won the near-term battle against inflation
Read more »
Bank of America’s Huge Bond Losses Likely Widened in Third QuarterThe losses, which totaled about $106 billion at the end of the second quarter, could have widened by over $10 billion in the current quarter.
Read more »
Bank of America CEO Says Fed Has Won the Near-Term Battle Against InflationThe Federal Reserve has won the near-term battle against inflation, but interest rates are likely to stay higher for longer, Bank of America's CEO Brian Moynihan said on Wednesday. While consumer spending growth has slowed from a year earlier the economy is headed toward a...
Read more »
Bank of America Corp. stock outperforms market on strong trading dayShares of Bank of America Corp. rallied 1.06% to $27.56 Thursday, on what proved to be an all-around positive trading session for the stock market, with the...
Read more »