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Goldman Sachs reduced its rating on Anheuser-Busch InBev
BUD from Neutral to Sell.
Goldman Sachs commented, "ABInBev's shares have outperformed staples and European brewers by 21% and 7% ytd, and now trades at a 4% and 12% premium on 12-month forward P/E and EV/EBITDA, respectively. The company scores in the second quartile (65%) in our GS SUSTAIN framework and we view it as well positioned in the context of consumer staples. However we believe the current valuation is stretched given weak operating performance and negative EBITDA revisions ytd."
Anheuser-Busch InBev closed at $86.09 on Tuesday.
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