AB InBev upgraded to Buy from Hold at Deutsche Bank

Deutsche Bank upgraded AB InBev (BUD) to Buy from Hold with a price target of EUR 75, up from EUR 55. The firm believes the company is “steadily building a track record of strong delivery,” despite prior exogenous challenges, that should command a higher multiple for the shares. AB InBev offers an “attractive combination” of emerging market growth with dominant market shares, digital leadership within beer, a improving U.S. backdrop, “relative immunity” from broader structural challenges within beverages, and strong cash delivery and cash use optionality, the analyst tells investors in a research note.