(CercleFinance.com) – Deutsche Bank raised its recommendation on AB InBev on Thursday, from ‘hold’ to ‘buy’ with a price target raised from 59 to 60 euros.
In a research note, the analyst believes that the ‘Bud Light’ scandal seems to be coming to an end, while the title’s recent underperformance implies on the contrary a definitive reduction in the brewer’s activities in the United States.
However, he points out, the group’s products remain well represented on the American shelves of large retailers, which makes him think that consumer sentiment towards the group could soon improve.
According to his calculations, these recent difficulties could result in a decline of around 12% in annual net profit, a level he considers in line with the underperformance of the stock compared to the STOXX sector index. Europe 600 Food & Beverage since April 1.
Copyright © 2023 CercleFinance.com. All rights reserved.
The information and analyzes disseminated by Cercle Finance only constitute a decision-making aid for investors. The responsibility of Cercle Finance cannot be held directly or indirectly following the use of information and analyzes by readers. It is recommended that any uninformed person consult a professional adviser before any investment. This indicative information does not in any way constitute an incitement to sell or a solicitation to buy.
Did you like this article ? Share it with your friends with the buttons below.
