Bud Light Got Slammed by Likes Of Ron DeSantis, Kid Rock — Now It's Regaining Its US Popularity, Shows Survey
Portfolio Pulse from Benzinga Neuro
Bud Light, a beer brand of Anheuser-Busch InBev (NYSE:BUD), is regaining popularity among American consumers, according to a Deutsche Bank survey. The brand faced a conservative backlash due to its partnership with transgender influencer Dylan Mulvaney, which led to a drop in sales and the brand losing its top spot as the best-selling beer in the US. However, Deutsche Bank believes the improvement in sentiment towards Bud Light is a trend and not just volatility. The bank reiterated a 'buy' target for Anheuser-Busch stock and expects it to rise 27% to around $71 a share.
August 18, 2023 | 4:28 am
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Anheuser-Busch InBev's Bud Light is regaining popularity, which could positively impact the company's stock. Deutsche Bank reiterated a 'buy' target for the stock and expects it to rise 27% to around $71 a share.
The news of Bud Light regaining popularity is directly related to Anheuser-Busch InBev, as it is one of their brands. The positive sentiment towards the brand could lead to increased sales, which would positively impact the company's revenues and potentially its stock price. Deutsche Bank's 'buy' rating and price target further support a potential increase in the stock price.
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IMPORTANCE 80
RELEVANCE 100