Anheuser-Busch InBev (BUD) was reduce to a Promote-equivalent ranking at Credit score Suisse on Thursday because the financial institution highlighted price and valuation considerations.
The downgrade from Impartial to Underperform famous that overseas trade fluctuations and better internet finance prices are on account of affect the brewer. Because it trades at a premium to some most well-liked names, comparable to Credit score Suisse high choose Heineken (OTCQX:HEINY), the draw back dangers are pronounced at current.
Shares of AB InBev (BUD) slid 2.75% on Thursday.
In the meantime, Pernod Ricard (OTCPK:PDRDF) was raised to Purchase as returning demand in China, a discount in duties in India, and common resiliency for spirits gross sales helps a extra optimistic outlook.
Learn extra on the newest gross sales information for brewers.