USA: Anheuser-Busch upgraded to "buy" due to positive forecasts

Analysts at Stifel Nicolaus & Company upgrade Anheuser-Busch Companies Inc (BUD) to "buy," while raising their estimates for the company, Newratings reported March 24.The 12-month target price is set to $54.

In a research note the analysts mention that the company is witnessing favourable margin trends. Industry pricing, Anheuser-Busch's net revenues per barrel and core brand sales-to-retailer growth are likely to accelerate during 2008, the analysts say. The upward revision in the EPS estimates reflects higher domestic revenues, Stifel Nicolaus & Company adds. The EPS estimates for 2008 and 2009 have been raised from $2.99 to $3.05 and from $3.22 to $3.29, respectively.

28 March, 2008