AB InBev: Bryan Garnier increases price target.
(CercleFinance.com) - Bryan Garnier reaffirms its “buy” recommendation on AB InBev and increases its price target from 115 to 128 euros in a note focusing on the Brazilian operations of the brewer and of its subsidiary AmBev.
The broker expects to see a very strong rebound in revenue and profitability after a disappointing 2016 and first-half of 2017. It expects the longer-term prospects to remain favourable.
“This leads us to upgrade our earnings forecasts such that we are now 12% ahead of the consensus for 2019 operating profit for Ambev and 10% for AB InBev”, states the financial intermediary.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The broker expects to see a very strong rebound in revenue and profitability after a disappointing 2016 and first-half of 2017. It expects the longer-term prospects to remain favourable.
“This leads us to upgrade our earnings forecasts such that we are now 12% ahead of the consensus for 2019 operating profit for Ambev and 10% for AB InBev”, states the financial intermediary.
Copyright (c) 2017 CercleFinance.com. All rights reserved.