AB Inbev: Bryan Garnier maintains 'buy' rating.
(CercleFinance.com) - Bryan Garnier reinstates its "buy" rating on AB InBev, along with its fair value of 128 euros, following a roadshow with Ambev, the international brewer's Brazilian subsidiary last week.
“The main conclusion is that the second half of 2017 is going to be the start of a significant turnaround of fortunes in the Brazilian beer market,” the broker says, which expects at least 20% growth in operating profit from beer over this period.
Bryan Garnier estimates that the average price of beer in the third quarter of 2017 is expected to be at least 7.6% higher than last year and that the delayed impact of the appreciation of the Brazilian real against the dollar should improve its margins significantly.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
“The main conclusion is that the second half of 2017 is going to be the start of a significant turnaround of fortunes in the Brazilian beer market,” the broker says, which expects at least 20% growth in operating profit from beer over this period.
Bryan Garnier estimates that the average price of beer in the third quarter of 2017 is expected to be at least 7.6% higher than last year and that the delayed impact of the appreciation of the Brazilian real against the dollar should improve its margins significantly.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.