Goldman Sachs Upgrades SABMiller plc to “Conviction-Buy” (SAB)
SABMiller plc (LON:SAB) was upgraded by equities research analysts at Goldman Sachs to a “conviction-buy” rating in a research note issued to investors on Thursday, AR Network reports. The firm currently has a GBX 3,580 ($58.74) target price on the stock, down from their previous target price of GBX 3,900 ($63.99). Goldman Sachs’ target price would suggest a potential upside of 29.43% from the stock’s previous close.
A number of other analysts have also recently weighed in on SAB. Analysts at Credit Suisse raised their price target on shares of SABMiller plc from GBX 3,100 ($50.86) to GBX 3,200 ($52.50) in a research note on Wednesday. They now have a “neutral” rating on the stock. Separately, analysts at Numis Securities Ltd reiterated an “add” rating on shares of SABMiller plc in a research note on Wednesday. They now have a GBX 3,500 ($57.42) price target on the stock. Finally, analysts at Nomura cut their price target on shares of SABMiller plc from GBX 2,700 ($44.30) to GBX 2,600 ($42.66) in a research note on Tuesday. They now have a “reduce” rating on the stock. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of GBX 3,395.81 ($55.71).
Shares of SABMiller plc (LON:SAB) traded up 0.36% on Thursday, hitting GBX 2766.00. The stock had a trading volume of 1,849,689 shares. SABMiller plc has a 1-year low of GBX 2650.50 and a 1-year high of GBX 3683.50. The stock’s 50-day moving average is GBX 1905. and its 200-day moving average is GBX 2286.. The company’s market cap is £44.118 billion.
SABMiller plc is a holding company, which has brewing and beverage interests across six continents. The Company together with its subsidiaries is engaged in the manufacture, distribution and sale of beverages.
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