Citigroup Inc. Downgrades SABMiller to Neutral (SAB)
SABMiller (LON:SAB) was downgraded by Citigroup Inc. to a “neutral” rating in a research note issued on Thursday, American Banking & Market News reports. They currently have a GBX 3,100 ($50.89) price objective on the stock, down from their previous price objective of GBX 3,200 ($52.53). Citigroup Inc.’s price target would indicate a potential upside of 4.10% from the stock’s previous close.
Shares of SABMiller (LON:SAB) traded down 2.01% on Thursday, hitting GBX 2978.00. 2,778,741 shares of the company’s stock traded hands. SABMiller has a one year low of GBX 2963.00 and a one year high of GBX 3683.50. The stock has a 50-day moving average of GBX 1739. and a 200-day moving average of GBX 2338.66. The company’s market cap is £47.499 billion.
SAB has been the subject of a number of other recent research reports. Analysts at Sanford C. Bernstein reiterated a “market perform” rating on shares of SABMiller in a research note to investors on Wednesday. They now have a GBX 3,630 ($59.59) price target on the stock. Separately, analysts at Societe Generale reiterated a “buy” rating on shares of SABMiller in a research note to investors on Wednesday. They now have a GBX 3,700 ($60.74) price target on the stock. Finally, analysts at Barclays reiterated an “equal weight” rating on shares of SABMiller in a research note to investors on Wednesday. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of GBX 3,390.32 ($55.65).
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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