USA: Anheuser-Busch Cos downgraded to "hold"

Analyst Marc Greenberg of Deutsche Bank Securities downgrades Anheuser-Busch Cos Inc (BUD) from "buy" to "hold", according to Newratings, May 28. The target price is set to $56.

In a research note, the analyst mentions that the company’s share price has appreciated recently, driven by press reports indicating a cash takeover offer of $65 per share by Inbev. Although Anheuser-Busch’s business fundamentals continue to improve, this is already reflected in the current valuation of the company’s stock, Deutsche Bank Securities adds.

29 May, 2008