AB InBev is still the global beer leader and is a growth stock investors shouldn't shy away from, the firm said in a Thursday note.
TD Cowen says Bud Light owner Anheuser-Busch InBev is a long-term growth story with strong margins and exceptional market share. The firm initiated coverage of the beverage stock with an outperform rating and a 63 euro per share price target on Thursday. Compared to Thursday's 50.37 euro close, TD Cowen's forecast implies roughly 25% upside. Shares of the Bud Light owner stock have slipped nearly 5% from the start of the year. BUD YTD mountain Anheuser-Busch InBev stock.
have been well covered , the company is still the dominant global leader in beer with exceptional profit margins. "We believe ABI is capable of sustainable long-term MSD dividend growth and continued deleverage, driven by industry leading beer profit margins and strong free cash flow conversion," Azer said. The analyst added that U.S. headwinds are unlikely to continue to grow meaningfully, and will abate heading into next year.
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