AB InBev upgraded to Buy from Hold at Deutsche Bank

Deutsche Bank upgraded AB InBev to Buy from Hold with a price target of EUR 60, up from EUR 59. The firm believes recent underperformance implies “a permanent reduction” in Budweiser’s U.S. business, though its proprietary survey data suggests these headwinds are likely to fade, even though Deutsche Bank adds that it does not expect the U.S. business “ever to fully recover from its current challenges.”