Anheuser Busch Inbev NV (NYSE:BUD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The firm presently has a $128.00 target price on the consumer goods maker’s stock. Zacks Investment Research‘s price objective points to a potential upside of 11.80% from the stock’s current price.

According to Zacks, “AB InBev’s shares have outperformed the broader sector in the last three months given the inherent strengths of a robust brand portfolio and solid geographical reach. The company’s focus on developing near beer alternatives, expanding in the craft beer space and undertaking innovations is also worth noting. Moreover, the company seeks growth via mergers and acquisitions, as evident from its SABMiller buyout, after which it is likely to control about one-thirds of the beer industry. Estimates for the current fiscal have been going up ahead of the company’s second-quarter 2017 earnings release. However, AB InBev has a record of negative earnings surprises in recent quarters. The company’s last reported quarter marked its fifth straight earnings miss, as results were hurt by currency headwinds and persistent weakness in Brazil. Further, a tough macroeconomic environment and volatility in some of the core regions remain concerns.”

Several other equities research analysts also recently issued reports on BUD. Vetr downgraded shares of Anheuser Busch Inbev NV from a “hold” rating to a “sell” rating and set a $109.86 price objective on the stock. in a research note on Tuesday, April 25th. Susquehanna Bancshares Inc restated a “neutral” rating and issued a $101.00 price objective (down previously from $109.00) on shares of Anheuser Busch Inbev NV in a research note on Wednesday, April 26th. Jefferies Group LLC restated a “buy” rating and issued a $132.00 price objective on shares of Anheuser Busch Inbev NV in a research note on Friday, May 5th. BidaskClub downgraded shares of Anheuser Busch Inbev NV from a “hold” rating to a “sell” rating in a research note on Wednesday, June 14th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $140.00 price objective (up previously from $134.00) on shares of Anheuser Busch Inbev NV in a research note on Friday, June 23rd. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $123.96.

Anheuser Busch Inbev NV (NYSE:BUD) traded up 0.21% during midday trading on Wednesday, reaching $114.73. 331,737 shares of the company’s stock traded hands. Anheuser Busch Inbev NV has a 52 week low of $98.28 and a 52 week high of $136.08. The company’s 50-day moving average price is $113.79 and its 200 day moving average price is $111.13. The stock has a market capitalization of $221.85 billion and a price-to-earnings ratio of 83.81.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cacti Asset Management LLC boosted its position in Anheuser Busch Inbev NV by 16.6% in the first quarter. Cacti Asset Management LLC now owns 227,815 shares of the consumer goods maker’s stock worth $25,119,000 after buying an additional 32,415 shares in the last quarter. Raymond James Trust N.A. boosted its position in Anheuser Busch Inbev NV by 1.0% in the first quarter. Raymond James Trust N.A. now owns 7,536 shares of the consumer goods maker’s stock worth $827,000 after buying an additional 73 shares in the last quarter. Douglass Winthrop Advisors LLC boosted its position in Anheuser Busch Inbev NV by 33.8% in the first quarter. Douglass Winthrop Advisors LLC now owns 317,096 shares of the consumer goods maker’s stock worth $34,804,000 after buying an additional 80,177 shares in the last quarter. Lawson Kroeker Investment Management Inc. NE boosted its position in Anheuser Busch Inbev NV by 1.3% in the first quarter. Lawson Kroeker Investment Management Inc. NE now owns 93,680 shares of the consumer goods maker’s stock worth $10,282,000 after buying an additional 1,215 shares in the last quarter. Finally, Chesley Taft & Associates LLC boosted its position in Anheuser Busch Inbev NV by 194.0% in the first quarter. Chesley Taft & Associates LLC now owns 22,885 shares of the consumer goods maker’s stock worth $2,512,000 after buying an additional 15,100 shares in the last quarter.

About Anheuser Busch Inbev NV

Anheuser Busch Inbev NV (AB InBev) is a Belgium-based company engaged in the brewers industry. The Company owns a portfolio of over 200 beer brands. The Company’s brand portfolio includes global brands, such as Budweiser, Corona and Stella Artois; international brands, including Beck’s, Leffe and Hoegaarden, and local champions, such as Bud Light, Skol, Brahma, Antarctica, Quilmes, Victoria, Modelo Especial, Michelob Ultra, Harbin, Sedrin, Klinskoye, Sibirskaya Korona, Chernigivske, Cass and Jupiler.

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