SABMiller Downgraded by Nomura to “Reduce” (SAB)
SABMiller (LON:SAB) was downgraded by investment analysts at Nomura from a “neutral” rating to a “reduce” rating in a note issued to investors on Thursday, American Banking News reports. They currently have a GBX 2,800 ($43.78) price objective on the stock, down from their previous price objective of GBX 3,300 ($51.59). Nomura’s target price indicates a potential downside of 10.83% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at HSBC upgraded shares of SABMiller (LON:SAB) from a “neutral” rating to an “overweight” rating in a research note to investors on Tuesday. They now have a GBX 3,600 ($56.29) price target on the stock, up previously from GBX 3,400 ($53.16). Separately, analysts at Liberum Capital reiterated a “sell” rating on shares of SABMiller (LON:SAB) in a research note to investors on Monday. Finally, 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.
Three analysts have rated the stock with a sell rating, eleven have given a hold rating and fifteen have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of GBX 3,528.15 ($55.16).
SABMiller (LON:SAB) traded down 0.80% during mid-day trading on Thursday, hitting GBX 3115.00. 1,400,198 shares of the company’s stock traded hands. The stock has a 50-day moving average of GBX 3138.58 and a 200-day moving average of GBX 3311.14. The company’s market cap is £49.651 billion.
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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