Analyst Robert Moskow from TD Cowen maintained a Hold rating on Anheuser Busch InBev SA/NV and decreased the price target to €55.40 from €56.00.
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Robert Moskow has given his Hold rating due to a combination of factors impacting Anheuser Busch InBev SA/NV. The company’s recent earnings report revealed a modest organic growth that fell short of expectations, primarily due to ongoing difficulties in key markets like Brazil and China. Despite these challenges, the company managed to exceed EBITDA expectations, driven by effective productivity measures across various regions.
Furthermore, while the reinstatement of an interim dividend and the announcement of a $6 billion share repurchase program are positive steps for shareholder returns, they align closely with market expectations and do not significantly alter the company’s financial outlook. Additionally, the volume declines in Brazil and China were more pronounced than anticipated, which raises concerns about future growth prospects. These elements collectively justify the Hold rating, as the potential for substantial upside appears limited under current conditions.