AB InBev Analyst Turns Bullish On Alcohol Giant's 'Business Transformation'
Portfolio Pulse from Priya Nigam
Shares of Anheuser-Busch Inbev SA (NYSE:BUD) rose in early trading on Friday after BofA Securities analyst Andrea Pistacchi upgraded the company's rating from Neutral to Buy and raised the price target from €59 ($62.39) to €65 ($68.74). The upgrade is based on the company's business transformation in key markets, particularly Latin America, and the decline in the cost of goods sold (COGS).
September 29, 2023 | 3:35 pm
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Anheuser-Busch Inbev SA's stock rose after an upgrade from BofA Securities. The analyst cited the company's business transformation and declining COGS as reasons for the upgrade.
The upgrade from BofA Securities is based on the company's business transformation and declining COGS. This positive news is likely to increase investor confidence in the company, leading to a rise in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100