AB InBev: analysts' comments boost stock
(CercleFinance.com) - AB InBev is one of the most traded stocks in the BEL 20 index on Wednesday, following encouraging comments from Deutsche Bank analysts.
In their morning comments, the broker welcomed the improving trend in US sales figures for Bud Light, a beer brand long boycotted following the launch of an advertising campaign deemed controversial.
The percentage of former Bud Light consumers no longer planning to buy the brand in the next three to six months has dropped from 18% to just 3%, analysts note.
Deutsche Bank, which has a buy rating on the stock, with a target price of E35, believes that it is trading at a depressed valuation, with a 2024 P/E of 15.3x, i.e. a 28% discount relative to the sector, which it believes offers upside potential from its current levels.
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