AB InBev: UBS upgrades stock

(CercleFinance.com) - UBS has upgraded AB InBev shares from 'sell' to 'neutral', raising its target price for them from E53 to E59, with the latter roughly in line with the current share price of the Belgian brewer which operates the Budweiser, Corona and Stella Artois brands.


The broker sees upside potential for 2024 organic EBITDA thanks to pricing, softening of cost of goods sold and leverage on general and administrative expenses, but sees risks to volume expectations.


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