Bernstein Cuts Anheuser-Busch InBev (BUD) Price Target Ahead of Q2 Earnings

Anheuser-Busch InBev SA/NV (NYSE:BUD) ranks among the top consumer staples stocks according to hedge funds. In anticipation of Anheuser-Busch InBev SA/NV (NYSE:BUD)’s July 31 earnings report, Bernstein SocGen Group maintained its Outperform rating on the stock but reduced its price target to €77 from €79 on July 3.

Though the ultimate impact would rely on offsetting price rises, the firm highlighted a number of reasons for the adjustment, including anticipated margin pressure in Brazil and Mexico during the second half of the year as a result of foreign exchange hedges turning negative.

Although Anheuser-Busch InBev SA/NV (NYSE:BUD) outperformed the overall market in recent scanner data, Bernstein also decreased its forecasts for volume growth in the US due to ongoing market difficulties and lowered its estimations for associate income, notably citing Castel and Efes.

Anheuser-Busch InBev SA/NV (NYSE:BUD) is a global beer manufacturer and distributor. Acknowledged as one of the largest breweries in the world, its main operations include the production of beer and the sale of soft drinks and non-alcoholic beverages.

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