AB InBev price target raised to $75 from $70 at Evercore ISI

Evercore ISI raised the firm’s price target on AB InBev to $75 from $70 and keeps an Outperform rating on the shares. AB InBev reported Q1 results “well ahead of Street,” which is “emblematic of portfolio strength,” says the firm, which highlights three reasons it feels more confident following the report. Despite fears of a weak U.S. industry, AB InBev struck a more optimistic tone, noting that the industry recovered throughout Q1, notes the analyst, who finds the company’s reiterated outlook “conservative after the strong start to the year.”