Jefferies Starts Anheuser-Busch InBev (BUD) at Buy
- Stocks dip as earnings pour in, consumer discretionary lags
- UPDATE: Alphabet (GOOG) Tops Q3 EPS Views; Revs Strong
- Baker Hughes (BHI), General Electric (GE) in Partnership Talks, Not Merger Talks
- Twitter (TWTR) Tops Q3 EPS by 4c; Announces Restructuring, Workforce Reduction
- Cirrus Logic, Inc. (CRUS) Q2 Results and Guidance Beat Estimates
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
Jefferies initiates coverage on Anheuser-Busch InBev (NYSE: BUD) with a Buy rating and EUR 130 price target.
Analyst Edward Mundy commented, "We initiate coverage with a BUY. Our 12 month PT EUR 130 is predicated on the realisation of USD 3bn cost saves on the SABMiller deal vs guidance 1.4bn. In our long range outlook we think a share price of EUR 180-200 is justified (by 2022) through delivery on the 2020 Dream Incentive Plan. Key steps are 1) over-delivery on SABMiller cost saves 2) driving sustainable med-term revenue growth +6% 3) further value accretive M&A (over 10% accretive to EPS) "
Shares of Anheuser-Busch InBev closed at $124.80 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Jefferies Cuts Price Target on VCA Antech (WOOF) Following 3Q Miss
- Jefferies Raises Price Target on Texas Instruments (TXN) Following 3Q Report
- Community Health Systems (CYH): Cutting PT After 3rd Miss In A Row - Jefferies
Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Related EntitiesJefferies & Co
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!