InBev has had its share recommendation upgraded. JP Morgan has raised its view on the brewer's shares to 'neutral' from 'underperform.'

The stock has been flat compared to the overall sector over the past two years, and down by around 10% this year, the broker said. Given the current strength of trading, JP Morgan does not anticipate underperformance from the stock, hence the upgrade.

Strong trading in developing markets should compensate for InBev's struggles in more developed markets, the broker added.

InBev is scheduled to post its first half results on 8 September.