BUD On The Rocks? Stock Flirts With Death Cross Ahead Of Q2 Earnings
Portfolio Pulse from Surbhi Jain
Anheuser-Busch InBev SA/NV (NYSE:BUD) is set to report its Q2 earnings on Aug 1, with Wall Street expecting 87 cents in EPS and $13.6 billion in revenues. The stock is approaching a Death Cross, a bearish technical pattern, which could signal further downside. Despite this, analysts maintain an Overweight rating with a price target of $71.70, implying a 15% upside.
July 25, 2024 | 3:23 pm
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Anheuser-Busch InBev SA/NV (NYSE:BUD) is approaching a Death Cross, a bearish technical pattern, ahead of its Q2 earnings report. Wall Street expects 87 cents in EPS and $13.6 billion in revenues. Despite the bearish technicals, analysts maintain an Overweight rating with a price target of $71.70, implying a 15% upside.
The approaching Death Cross indicates a bearish technical pattern, suggesting potential downside. However, the upcoming Q2 earnings report and positive analyst ratings with a 15% upside provide a mixed outlook. The technical indicators are currently more influential in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100