BUZZ-AB Inbev: "too attractive to ignore", DB upgrades to 'buy'
08:47 (16/09) - Bron: Reuters
** Deutsche Bank upgrades the world's largest brewer AB
Inbev to "buy" from "hold", saying many concerns are
already priced in and the risk/reward opportunity is "too
attractive to ignore"
** It says issues, such as rising input costs, the overhang
from Altria's 10% stake, elevated debt, and beer losing share to
spirits, are already reflected in the valuation
** AB Inbev's dominant market share positions in
concentrated end markets and emerging markets focus remains a
compelling proposition, the broker says
** DB adds that returning to 2019 group EBITDA margins and a
sector price-to-earning ratio could lead share price to 90 euros
or 79% upside