AB InBev: Barclays cuts target price

(CercleFinance.com) - Barclays reiterates its 'overweight' recommendation on AB InBev, with a target price lowered from E76 to E73, expecting Q3 2024 to prove another quarter of solid execution for the Belgian group.


The broker believes that an opportunity for upside potential exists thanks to the possibility of AB InBev announcing a $2.5bn share buyback program, which the market is not currently anticipating.

Barclays adds that it expects the beer giant (owner of Stella Artois, Budweiser and Corona, amongst others) to tighten its revenue organic growth guidance range for FY 2024 to between +6% and +8%.


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