SABMiller Upgraded to Overweight at HSBC (SAB)
SABMiller (LON:SAB) was upgraded by investment analysts at HSBC from a “neutral” rating to an “overweight” rating in a note issued to investors on Tuesday, StockRatingsNetwork.com reports. The firm currently has a GBX 3,600 ($56.29) price target on the stock, up from their previous price target of GBX 3,400 ($53.16). HSBC’s target price would suggest a potential upside of 13.42% from the stock’s previous close.
Shares of SABMiller (LON:SAB) traded up 2.88% on Tuesday, hitting GBX 3174.00. 1,738,072 shares of the company’s stock traded hands. SABMiller has a 1-year low of GBX 2589.5801 and a 1-year high of GBX 3683.50. The stock has a 50-day moving average of GBX 3141. and a 200-day moving average of GBX 3311.84. The company’s market cap is £50.591 billion.
A number of other analysts have also recently weighed in on SAB. Analysts at Liberum Capital reiterated a “sell” rating on shares of SABMiller (LON:SAB) in a research note to investors on Monday. Separately, analysts at Canaccord Genuity reiterated a “sell” rating on shares of SABMiller (LON:SAB) in a research note to investors on Thursday, September 5th. They now have a GBX 3,000 ($46.90) price target on the stock. Finally, analysts at Citigroup Inc. reiterated a “buy” rating on shares of SABMiller (LON:SAB) in a research note to investors on Wednesday, August 28th. They now have a GBX 3,550 ($55.50) price target on the stock.
Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and fifteen have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of GBX 3,547.38 ($55.46).
SABMiller plc is a holding company which has brewing and beverage interests across six continents. The Company is engaged in manufacture, distribution and sale of beverages.
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