USA: Anheuser-Busch slips after analyst cuts rating

Shares of Anheuser-Busch are edging down after an analyst cut his rating on the beer brewer to "Hold" from "Buy," saying the stock is trading at a fair price, The Associated Press reported May 14.

Anheuser-Busch Cos. shares are up about 8 percent since the company reported its first-quarter results on April 23.

Stifel Nicolaus analyst Mark Swartzberg said buyout speculation has also lifted the stock price, but said he has "no knowledge" of any buyout talks and doesn't think a deal will happen soon.

Rumors of talks between Anheuser-Busch and Brussels, Belgium-based InBev SA, the world's biggest brewer by volume, have been circulating for months. InBev makes Beck's, Brahma, Stella Artois and Skol beer, among others.

Swartzberg said the St. Louis-based Anheuser-Busch could be purchased for about $60 per share if a buyer is interested. He suspended his prior price target of $54 on the stock.

Anheuser-Busch shares slipped 62 cents, or 1.2 percent, to $51.43.

15 May, 2008