Fly News Breaks for February 25, 2020
Feb 25, 2020 | 06:41 EDT
HSBC analyst Carlos Laboy downgraded Ambev to Reduce from Hold with a price target of R$14, down from R$17. The analyst is not making a call on the upcoming quarterly earnings report. Rather, he is warning on a "long list of structural issues" that could challenge the stock. Ambev seems to have lost its direction as its Brazilian market share keeps slipping and Heineken has the portfolio momentum, Laboy tells investors in a research note.
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