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BUD

AB InBev

$78.70

0.22 (0.28%)

, BREW

Craft Brew

$7.33

0.06 (0.83%)

16:51
11/11/19
11/11
16:51
11/11/19
16:51

Anheuser-Busch to buy remaining Craft Brew Alliance stake for $16.50 per share

Today, Craft Brew Alliance (BREW) and Anheuser-Busch (BUD) jointly announced an agreement to expand their partnership, with A-B agreeing to purchase the remaining CBA shares it does not already own in a merger transaction for $16.50 per share, in cash. The vast majority of CBA's brands are already distributed through A-B's network of independent wholesalers per the companies' existing commercial agreement. A-B currently owns a 31.2% stake in CBA and has offered $16.50 in cash for the remaining shares. The transaction is subject to customary closing conditions, including approval by a majority of CBA's shareholders not affiliated with A-B and certain regulatory approvals. The transaction is expected to close in 2020.

BUD

AB InBev

$78.70

0.22 (0.28%)

BREW

Craft Brew

$7.33

0.06 (0.83%)

  • 12

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    Feb

BUD AB InBev
$78.70

0.22 (0.28%)

10/25/19
EVER
10/25/19
DOWNGRADE
EVER
In Line
Evercore ISI sees AB InBev being 'in penalty box,' downgrades to In Line
As previously reported, Evercore ISI analyst Robert Ottenstein downgraded AB InBev to In Line from Outperform following the beer maker's "disappointing" Q3 report and Q4 outlook. Input costs should improve in 2020, but he expects consensus forecasts for 2020 and 2021 organic EBITDA growth to come down given that the beer market remains softer than expected and the company no longer has the benefit of synergies from the SABMiller transaction. Ottenstein sees the stock being "in the penalty box" and thinks shares will tread water in the $80s over the next 6 months, he tells investors.
10/28/19
MACQ
10/28/19
NO CHANGE
Target $97
MACQ
Neutral
AB InBev price target lowered to $97 from $104 at Macquarie
Macquarie analyst Caroline Levy lowered her FY19, 20 and 21 EPS estimates for AB InBev following the company's disappointing Q3 results, stating that Brazil and Korea were the main drags but North America was also worse than expected. She prefers to remain sidelined on AB InBev and keeps a Neutral rating on the shares.
10/28/19
GUGG
10/28/19
NO CHANGE
Target $106
GUGG
Buy
AB InBev should be bought, especially on weakness, says Guggenheim
Guggenheim analyst Laurent Grandet lowered his price target for AB InBev to $106 from $114 following the company's "softer than expected" Q3 results. The analyst, however, remains positive on the shares. He says AB InBev remains one of the "most attractive growth algorithms in the space" with continued optionality for acquisitions given the recently completed initial public offering in Asia Pacific. Grandet recommends investors accumulate shares, especially on weakness, and keeps a Buy rating on the name.
11/01/19
RBCM
11/01/19
NO CHANGE
RBCM
Sector Perform
AB InBev price target lowered to EUR72 from EUR89 at RBC Capital
RBC Capital analyst James Edward Jones lowered his price target on AB InBev to EUR72 and kept his Sector Perform rating. The analyst warns that the company will struggle to grow its EIBT by more than mid-single digits and also believes that its margins have peaked while its U.S. market share loss has accelerated.
BREW Craft Brew
$7.33

0.06 (0.83%)

09/05/19
COWN
09/05/19
NO CHANGE
Target $14
COWN
Outperform
Craft Brew price target lowered to $14 from $23 at Cowen
Cowen analyst Vivien Azer lowered her price target on shares of Craft Brew Alliance (BREW) to $14 from $23 after the company updated its FY19 guidance and following the recent news that Anheuser-Busch (BUD) declined its opportunity to make an offer to acquire the rest of the company's shares.
09/06/19
BMOC
09/06/19
NO CHANGE
Target $10
BMOC
Market Perform
Craft Brew price target lowered to $10 from $12 at BMO Capital
BMO Capital analyst Amit Sharma lowered his price target on Craft Brew (BREW) to $10 and kept his Market Perform rating, saying he sees "little likelihood" of a material stock price recovery after AB InBev (BUD) passed on fully acquiring the company. The analyst notes that while its management indicated that all strategic options are still on the table, he sees the potential for shareholder-friendly outcome as "unlikely".
09/06/19
MAXM
09/06/19
NO CHANGE
Target $16
MAXM
Buy
Craft Brew price target lowered to $16 from $21 at Maxim
Maxim analyst Stephen Anderson lowered his price target on Craft Brew to $16 after the company lowered its FY19 shipment guidance on its earnings call yesterday. The analyst still keeps his Buy rating on the shares, anticipating 2020 improvement as Craft Brew works through its inventory issues and "rationalizes its SG&A structure."
09/19/19
MKMP
09/19/19
INITIATION
Target $16
MKMP
Neutral
Craft Brew initiated with a Neutral at MKM Partners
MKM Partners analyst Bill Kirk initiated Craft Brew with a Neutral and $16 price target.

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GLD

SPDR Gold Shares

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PICO

PICO Holdings

$10.81

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QHC

Quorum Health

$0.95

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SPRT

Support.com

$1.94

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BXRX

Baudax Bio

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LMT

Lockheed Martin

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ENV

Envestnet

$71.72

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NOC

Northrop Grumman

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MGTA

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IMH

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ATAX

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