News

US: Disappointing Q2 hits AB ratings

Most popular

The just-drinks analyst returns

Heineken must cut costs to aid recovery - analysis

How COVID has accelerated the sobriety trend

Interview - Treasury CEO Mike Clarke - Part II

Latest sexism row is a whisky watershed

MORE

Anheuser-Busch has seen its share recommendation reviewed by several investment banks following the release of disappointing Q2 figures yesterday (28 July).

Citigroup Smith Barney started the ball rolling by downgrading the brewer to 'sell' from 'hold.' "This is the fourth time management has lowered its '05 guidance and we are concerned it may not be the last," the broker said. Its future looks "fairly bleak," the broker added.

Banc of America Securities then lowered AB's price target to US$42 from US$48. "This will take time and money to fix," the bank said in a research note.

Finally, Morgan Stanley also cut the US company's price target to US$48 from US$52. The brokerage has an 'equal-weight' rating on AB's stock.

The president and chief executive of Anheuser-Busch, Patrick Stokes, said yesterday: "Both the company and the domestic beer industry experienced volume declines and higher cost pressures." Net sales for the quarter rose by only 0.2% to US$4.018bn from US$4.010bn, the company said.


Sectors: Beer & cider

Related Content

A-B gets Wall St dressing-down for Q2 results

A-B gets Wall St dressing-down for Q2 results...

Diageo partners with artists in Captain Morgan Sliced Apple Spiced Rum US push

Diageo partners with artists in Captain Morgan Sliced Apple Spiced Rum US push...

Danone champions nature in latest global Volvic push 

Danone champions nature in latest global Volvic push ...

Big Drop Brewing Co's Firesider, Kinzig alcohol-free beers - Product Launch

Big Drop Brewing Co's Firesider, Kinzig alcohol-free beers - Product Launch...

Oops! This article is copy protected.

Why can’t I copy the text on this page?

The ability to copy articles is specially reserved for people who are part of a group membership.

How do I become a group member?

To find out how you and your team can copy and share articles and save money as part of a group membership call Sean Clinton on
+44 (0)1527 573 736 or complete this form..



Forgot your password?