Goldman Sachs upgraded AB InBev (BUD) to Buy from Neutral with a price target of $88, up from $70.10. The company has the potential to return to its “previous best-in class status” given its lobal footprint tilted toward emerging markets, the analyst tells investors in a research note. The firm forecasts 1.2% volume growth assuming that the U.S. drag is moderating and China recovers. This should lead to 4.5% organic sales growth in the mid-term with price/mix “underpinned by its solid brand portfolio led by Corona,” contends Goldman. It believes ABInBev will able to reach its 7% organic EBITDA growth, towards the top end of its guidance of 4% to 8%.
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