In a report released today, Robert Moskow from TD Cowen maintained a Hold rating on Anheuser Busch InBev SA/NV, with a price target of €55.40.
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Robert Moskow has given his Hold rating due to a combination of factors affecting Anheuser Busch InBev’s performance. Despite a positive shift in the U.S. market share as anticipated by management, the overall consumer demand for beer in the U.S. has declined. Additionally, the company faces challenges in Brazil due to unfavorable macroeconomic conditions and market share losses, while in Asia, governmental measures have negatively impacted sales.
Furthermore, Moskow has adjusted his estimates for the company’s performance, lowering volume expectations and organic growth projections for the third quarter and the full year. The forecasted earnings per share have also been reduced, reflecting these challenges. The foreign exchange translation is expected to be a headwind, although slightly less than previously estimated, due to a weaker U.S. dollar. These combined factors contribute to maintaining a Hold rating on the stock.