AB InBev Reports Third Quarter 2023 Results
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Anheuser-Busch InBev (BUD) Mentioned Positively at Evercore, 'BUY this stock'
October 31, 2023 7:21 AM EDTEvercore ISI analyst Robert Ottenstein reiterated an Outperform rating and $70.00 price target on Anheuser-Busch InBev (NYSE: BUD)
The analyst comments "Firm announced a $1B buyback over the next 12 months in conjunction with $3B debt paydown, all in the context of a solid earnings beat. ABI reported 3Q23 organic EBITDA +4.1% vs. +0.3% consensus, with Normalized EBITDA of $5.43 billion vs. $5.32 billion consensus. Organic revenue growth of +5.0% (+1.6% excluding Argentina) also came in ahead of Street +4.7% on stronger pricing as organic volumes -3.4% were below... More
