Fly News Breaks for March 3, 2020
Mar 3, 2020 | 05:23 EDT
BofA analyst Paul Steegers downgraded AB InBev to Neutral from Buy with a price target of ZAR 976, down from ZAR 1,585. The analyst believes near-term headwinds, specifically in Brazil, will cut the company's organic EBITDA growth to 4.3% in Q1. Tough compares, a challenging macro economic environment and uncertainty related to the coronavirus outbreak indicates limited valuation upside for AB InBev, Steegers tells investors in a research note.
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