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AB InBev: Berenberg maintains 'buy' after sharp fall

( - Berenberg maintains its "buy" rating on the shares of Anheuser-Busch InBev, with a target price of 109 euros, despite its sharp fall.

In a note entitled "two steps forward, one step back," the German broker pointed out that AB InBev has reported a weak "third quarter" after a solid first-half and promising moves to de-lever the balance sheet.

"However, we think the share price move after the results was exaggerated and that the market is ignoring the positive steps taken this year," it said.

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