UPDATE: Goldman Sachs Downgrades Anheuser-Busch InBev to Sell on Valuation
Goldman Sachs reduced its rating on Anheuser-Busch InBev (NYSE: 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.
Latest Ratings for BUD
|Oct 2016||Societe Generale||Downgrades||Buy||Hold|
|Oct 2016||Morgan Stanley||Assumes||Overweight|
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