Report
Philip Gorham
EUR 100.00 For Business Accounts Only

AB InBev's Dividend Cut the Right Move for Long-Term Investors; Shares Offer Material Upside

We are modestly lowering our fair value estimate for Anheuser-Busch InBev to $124 per ADR from $126, following the sharp depreciation of emerging-market currencies against the U.S. dollar in recent weeks. This is another headwind for the world's biggest brewer, already fighting volume declines in the U.S., its largest market; volatility in Brazil, its second-largest; and a more recent slowdown in South Africa. Furthermore, this will pose an additional challenge to the firm's primary medium-term ...
Underlying
Anheuser-Busch InBev N.V. ADS

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Philip Gorham

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