Anheuser Busch Inbev NV (NYSE:BUD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The brokerage currently has a $128.00 price objective on the consumer goods maker’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 11.80% from the stock’s current price.
According to Zacks, “AB InBev’s shares have outperformed the broader sector in the last three months given the inherent strengths of a robust brand portfolio and solid geographical reach. The company’s focus on developing near beer alternatives, expanding in the craft beer space and undertaking innovations is also worth noting. Moreover, the company seeks growth via mergers and acquisitions, as evident from its SABMiller buyout, after which it is likely to control about one-thirds of the beer industry. Estimates for the current fiscal have been going up ahead of the company’s second-quarter 2017 earnings release. However, AB InBev has a record of negative earnings surprises in recent quarters. The company’s last reported quarter marked its fifth straight earnings miss, as results were hurt by currency headwinds and persistent weakness in Brazil. Further, a tough macroeconomic environment and volatility in some of the core regions remain concerns.”
Other equities analysts have also issued reports about the stock. Goldman Sachs Group, Inc. (The) restated a “buy” rating on shares of Anheuser Busch Inbev NV in a report on Monday, July 10th. Jefferies Group LLC restated a “buy” rating on shares of Anheuser Busch Inbev NV in a report on Monday, July 10th. Stifel Nicolaus restated a “buy” rating and issued a $140.00 price objective (up from $134.00) on shares of Anheuser Busch Inbev NV in a report on Friday, June 23rd. Susquehanna Bancshares Inc reiterated a “hold” rating and set a $103.00 target price (up from $101.00) on shares of Anheuser Busch Inbev NV in a report on Thursday, May 4th. Finally, Vetr lowered shares of Anheuser Busch Inbev NV from a “hold” rating to a “sell” rating and set a $109.86 target price on the stock. in a report on Tuesday, April 25th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the company. Anheuser Busch Inbev NV presently has an average rating of “Hold” and an average price target of $123.96.
Anheuser Busch Inbev NV (NYSE BUD) traded down 0.01% during mid-day trading on Wednesday, hitting $114.48. 269,522 shares of the stock traded hands. The stock has a market cap of $221.37 billion and a P/E ratio of 83.62. Anheuser Busch Inbev NV has a 12 month low of $98.28 and a 12 month high of $136.08. The stock has a 50-day moving average price of $113.79 and a 200-day moving average price of $111.13.
WARNING: “Anheuser Busch Inbev NV (BUD) Upgraded to Buy by Zacks Investment Research” was first published by StockNewsTimes and is the property of of StockNewsTimes. If you are accessing this report on another website, it was illegally copied and republished in violation of US & international copyright & trademark legislation. The correct version of this report can be accessed at https://stocknewstimes.com/2017/07/19/anheuser-busch-inbev-nv-bud-upgraded-to-buy-by-zacks-investment-research.html.
Hedge funds have recently made changes to their positions in the stock. Aperio Group LLC boosted its stake in shares of Anheuser Busch Inbev NV by 10.1% in the second quarter. Aperio Group LLC now owns 152,903 shares of the consumer goods maker’s stock valued at $16,874,000 after buying an additional 14,068 shares during the period. Beech Hill Advisors Inc. boosted its stake in shares of Anheuser Busch Inbev NV by 65.6% in the second quarter. Beech Hill Advisors Inc. now owns 3,155 shares of the consumer goods maker’s stock valued at $348,000 after buying an additional 1,250 shares during the period. Jarislowsky Fraser Ltd boosted its stake in shares of Anheuser Busch Inbev NV by 0.5% in the second quarter. Jarislowsky Fraser Ltd now owns 522,023 shares of the consumer goods maker’s stock valued at $57,610,000 after buying an additional 2,549 shares during the period. Jolley Asset Management LLC boosted its stake in shares of Anheuser Busch Inbev NV by 13.2% in the second quarter. Jolley Asset Management LLC now owns 38,720 shares of the consumer goods maker’s stock valued at $4,273,000 after buying an additional 4,500 shares during the period. Finally, Bartlett & Co. LLC boosted its stake in shares of Anheuser Busch Inbev NV by 0.3% in the second quarter. Bartlett & Co. LLC now owns 164,500 shares of the consumer goods maker’s stock valued at $18,154,000 after buying an additional 570 shares during the period.
Anheuser Busch Inbev NV Company Profile
Anheuser Busch Inbev NV (AB InBev) is a Belgium-based company engaged in the brewers industry. The Company owns a portfolio of over 200 beer brands. The Company’s brand portfolio includes global brands, such as Budweiser, Corona and Stella Artois; international brands, including Beck’s, Leffe and Hoegaarden, and local champions, such as Bud Light, Skol, Brahma, Antarctica, Quilmes, Victoria, Modelo Especial, Michelob Ultra, Harbin, Sedrin, Klinskoye, Sibirskaya Korona, Chernigivske, Cass and Jupiler.
Get a free copy of the Zacks research report on Anheuser Busch Inbev NV (BUD)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Anheuser Busch Inbev NV Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Anheuser Busch Inbev NV and related companies with MarketBeat.com's FREE daily email newsletter.
