Nomura Securities Downgrades Anheuser-Busch InBev (BUD) to Neutral

Nomura Securities downgraded Anheuser-Busch InBev (ABI.BR) (NYSE: BUD) from Buy to Neutral and keeps its EUR 121 price target.

Analyst Edward Mundy commented, "ABI is, we believe, a well-run business with strong positions in attractive profit pools. With 52% of company shareholders represented on the board, this drives an ownership culture and a long-term view. Although we remain positive on the scope for longer-term growth at ABI, we see a lack of obvious near-term catalysts to drive continued share price momentum and step back after the stock’s strong run – over the past three years, ABI has been the bestperforming large cap European beer stock up 87% vs SABMiller up 31%, Heineken up 74%, Carlsberg up 33% and the market up 45% (MSCI World). With the shares trading just below our target price (EUR 121), we downgrade ABI to Neutral from Buy. We make no change to our underlying estimates and expect little new with 1H results due 30 July."

For an analyst ratings summary and ratings history on Anheuser-Busch InBev click here. For more ratings news on Anheuser-Busch InBev click here.

Shares of Anheuser-Busch InBev closed at $128.50 yesterday.

You May Also Be Interested In

• Freedom Broker Downgrades Karooooo Ltd. (KARO) to Hold
• Uber (UBER) Reiterated at Market Outperform by Citizens on Delivery Hero Deal
• UnitedHealth Group (UNH) PT Raised to $490 at UBS