The firm called the brewer a 'relatively defensive stock for the current environment.'
Anheuser-Busch InBev is approaching a margins inflection point, supporting a stock rerating for the world's largest beer maker, according to Bank of America. Analyst Andrea Pistacchi upgraded shares to buy from neutral. She also issued a price target of $68 for the company's U.S.-listed shares. The new price target on shares implies 27% upside from Thursday's close.
She added that a higher cost of doing business as a result of the company's commercial transformation is largely baked into the stock. . "With the portfolio transformation well advanced in many markets and BEES rolled out at scale , we believe that ABI is in a good position to leverage its strong market positions, particularly in LatAm, into better profit growth going forward," Pistacchi said.
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