(News Bulletin 247) – Credit Suisse reaffirms its ‘underperformance’ opinion on AB InBev, while raising its price target from 61 to 64 euros, in view of the publication of first quarter results on May 4, he expects mixed.
The broker anticipates 9.8% organic revenue growth for this period (against a consensus of 9.2%), saying it is ‘more cautious on volumes in all regions except Asia-Pacific’, but more positive on price and mix effects.
According to Credit Suisse, the title of the Belgian brewer is trading at 21.3 times the expected EPS, which represents a premium of around 11% compared to its peers Heineken and Carlsberg, “despite a more heavily indebted balance sheet”.
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