BofA Global Research upgraded BUD to “buy” from “neutral”
Anheuser-Busch Inbev SA (NYSE:BUD) stock is getting a solid boost today, after an upgrade from BofA Global Research to “buy” from “neutral,” with a price-target hike to $68. The firm sees margins expanding as the recent Bud Light backlash subsides. At last glance, BUD was up 3.7% at $55.53.
The stock could be seeing some pressure at the overhead $55 level, which acted as support for most of this year. BUD’s rally this month was also firmly rejected by its descending 100-day moving average. Since the start of the year, the equity is down 7.5%.
Of the nine analysts in coverage, six now carry a “buy” or better rating, with three a tepid “hold.” Meanwhile, the 12-month consensus price target of $67.19 is a 21.1% premium to current levels.
When weighing in on Anheuser-Busch stock, options look like a good way to go. The stock’s Schaeffer’s Volatility Index (SVI) of 21% ranks in the 19th percentile of its annual range, meaning options traders are pricing in low volatility expectations at the moment.
Image and article originally from www.schaeffersresearch.com. Read the original article here.