AB Inbev: Jefferies upgrades stock

(CercleFinance.com) - On Monday Jefferies upgraded its recommendation on the AB InBev share from "underperform" to "hold" and raised its corresponding target price from 63 euros to 85 euros.


In a research note, the American broker hails the efforts undertaken by the beer giant to revive its sales and limit its debt, two factors that may well have weighed on its share price.

While the implementation of synergies is now coming to an end, AB InBev has been able to accelerate its sales thanks to the optimisation of its portfolio, a momentum that is amplified by a favourable economic conditions and a more balanced approach to its growth, Jefferies adds.

Although it recognises that this progress justifies an upgrade, the broker prefers to wait until the Belgian group's growth materialises over time before adopting a buy rating on the share.



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