Nomura Securities Maintains a 'Neutral' on Anheuser-Busch InBev (BUD); Q3 Beat From Lower Tax and Less Marketing

Nomura Securities maintains a 'Neutral' on Anheuser-Busch InBev (NYSE: BUD) price target of EUR39.

Nomura analyst, Ian Shackleton, said, "3Q EPS USD 1.09 was 8% ahead of consensus USD 1.01 and 14% ahead of Nomura USD 0.95. Of the outperformance, the largest part owes a lower Q3 tax rate (Q3 effective tax rate 19% vs. cons 25%). In key US market, volumes were in line with NE (-3.1%) and price/mix was also in line (+1.9%); Organic growth was below consensus despite pull-back in sales/marketing spend."

For an analyst ratings summary and ratings history on Anheuser-Busch InBev click here. For more ratings news on Anheuser-Busch InBev click here.

Shares of Anheuser-Busch InBev closed at $57.00 yesterday.

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