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Anheuser Busch (NYSE:BUD) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Friday. The firm currently has a $117.20 target price on the stock. Zacks‘s price target would suggest a potential upside of 9.49% from the company’s current price.

Shares of Anheuser Busch (NYSE:BUD) opened at 107.04 on Friday. Anheuser Busch has a one year low of $92.76 and a one year high of $116.65. The stock has a 50-day moving average of $112.9 and a 200-day moving average of $106.9. The company has a market cap of $171.9 billion and a P/E ratio of 13.05. Anheuser Busch also was the target of a significant drop in short interest during the month of July. As of July 15th, there was short interest totalling 896,018 shares, a drop of 34.1% from the June 30th total of 1,360,647 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average daily volume of 790,270 shares, the days-to-cover ratio is currently 1.1 days.

Anheuser Busch (NYSE:BUD) last issued its quarterly earnings data on Thursday, July 31st. The company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.26. The company had revenue of $12.20 billion for the quarter, compared to the consensus estimate of $12.20 billion. During the same quarter in the previous year, the company posted $0.93 earnings per share. The company’s revenue for the quarter was up 15.2% on a year-over-year basis. On average, analysts predict that Anheuser Busch will post $5.25 earnings per share for the current fiscal year.

Separately, analysts at Bank of America upgraded shares of Anheuser Busch from a “neutral” rating to a “buy” rating in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $59.26.

Anheuser-Busch InBev SA/NV is a brewing company. The Company produces, markets, distributes and sells a balanced portfolio of approximately 200 beer brands.

To view Zacks’ full report, visit Zacks’ official website.

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