UPDATE: Morgan Stanley Reiterates On Ambev SA (ADR) On Updated Estimates

In a report published Thursday, Morgan Stanley analyst Lore Serra reiterated an Overweight rating on

, but lowered the price target from $8.40 to $8.30. In the report, Morgan Stanley noted, “We see favorable risk-reward, despite near-term uncertainty regarding excise taxes in Brazil, as the stock is pricing in moderated expectations for future growth, which may not be the case for other consumer stocks. We also think ABEV's dividend stream should be strong and sustainable.” Ambev SA (ADR) closed on Wednesday at $7.22.