AB Inbev: Credit Suisse downgrades share
(CercleFinance.com) - On Monday, Credit Suisse has downgraded its rating on the share of the world's largest bear maker, Anheuser-Busch Inbev, from "outperform" to "neutral".
The broker, which has also cut its target price from 87 euros to 58 euros, mentions debt that has returned to uncomfortable levels.
The broker says that the slowdown in the rate at which the group is cutting its debt makes it particularly dependent on a very volatile economic environment and overshadows its medium-term appeal.
According to analysts, the share is indeed cheap at present, but its delay in valuation has no reason to disappear, unless the brewer reduces it debt.
AB InBev shares are currently down 4.5%, the fifth largest drop in a BEL 20 index, which is also down 4.5%.
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