Ambev price target lowered to $3.54 from $3.74 at Bernstein

Bernstein lowered the firm’s price target on Ambev to $3.54 from $3.74 and keeps an Outperform rating on the shares. The analyst says Q3 “has been brutal” for the Americas alcoholic beverage group, with stock de-ratings across the board. However, the firm says earnings stability and line-of-sight to positive catalysts provide opportunity for its Outperform-rated names.