Bud Light Brewer AB InBev Faces China, U.S. Headwinds
Dow Jones
Oct 01
0854 GMT - AB InBev is likely to book continued weakness in the U.S. and China, analysts at Bernstein write in a note to clients. Third-quarter results for the world's largest brewer, which counts Bud Light and Michelob Ultra among its labels, should show destocking in China and a weak beer market in the U.S., Bernstein says. The brokerage nudges down its earnings expectations for the year for the Belgium-based group, lowering its target price on the stock to 96 euros from 97 euros and keeping an outperform rating. Shares trade 0.3% lower at 65.12 euros.
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