Ambev SA Receives Overweight Rating from Morgan Stanley (ABEV)
Ambev SA (NASDAQ:ABEV)‘s stock had its “overweight” rating reissued by stock analysts at Morgan Stanley in a report issued on Thursday. They currently have a $8.30 target price on the stock, down from their previous target price of $8.40. Morgan Stanley’s price target indicates a potential upside of 14.96% from the stock’s previous close.
The analysts wrote, “We see favorable risk-reward, despite near-term uncertainty regarding excise taxes in Brazil, as the stock is pricing in moderated expectations for future growth, which may not be the case for other consumer stocks. We also think ABEV’s dividend stream should be strong and sustainable.”
Ambev SA (NASDAQ:ABEV) traded up 0.21% on Thursday, hitting $7.235. The stock had a trading volume of 703,079 shares. Ambev SA has a 52 week low of $6.23 and a 52 week high of $8.054. The stock’s 50-day moving average is $7.1 and its 200-day moving average is $7.2. The company has a market cap of $113.4 billion and a P/E ratio of 22.01.
Ambev SA (NASDAQ:ABEV) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.06 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.07 by $0.01. On average, analysts predict that Ambev SA will post $0.34 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on ABEV. Analysts at Barclays downgraded shares of Ambev SA from an “overweight” rating to an “equal weight” rating in a research note on Friday, August 1st. They now have a $7.00 price target on the stock, down previously from $8.00. Separately, analysts at Credit Suisse downgraded shares of Ambev SA from an “outperform” rating to a “neutral” rating in a research note on Tuesday, June 10th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $7.80.
Ambev SA, known as Inbev Participacoes Societarias SA, is a Brazil-based company engaged in the brewers sector.
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