Ambev price target raised to $2.45 from $2.20 at BofA

BofA raised the firm’s price target on Ambev (ABEV) to $2.45 from $2.20 and keeps a Neutral rating on the shares. The firm expects Ambev’s Q1 results due on May 8 to be “mixed,” with year-over-year EBITDA growth driven by international operations while Brazil decelerates, and EPS down year-over-year on a higher effective tax rate, the analyst tells investors in a preview.