Upgrade Alert for Anheuser-Busch InBev (BUD)
Anheuser-Busch InBev (NYSE:BUD) was upgraded from Hold to Buy at Societe Generale today. The stock closed yesterday at $124.02 on volume of 2.3 million shares, above average daily volume of 1.6 million.
Over the past year, Anheuser-Busch InBev has traded in a range of $102.52 to $130.08 and closed yesterday at $124.02, 21% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has remained constant.
There is potential upside of 6.5% for shares of Anheuser-Busch InBev based on a current price of $124.02 and an average consensus analyst price target of $132.13. The stock should find initial support at its 50-day moving average (MA) of $119.03 and further support at its 200-day MA of $118.91.
Anheuser-Busch InBev NV brews beer. The Company manufactures ale, lager, stout, and bitter beer. Anheuser-Busch InBev owns brands that are both nationally and internationally prominent. The Company has production plants in Europe, the Americas, and Asia.
SmarTrend recommended that subscribers consider buying shares of Anheuser-Busch InBev on March 18th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $121.26. Since that recommendation, shares of Anheuser-Busch InBev have risen 4.0%. We continue to monitor BUD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: analyst upgrades/downgrades Anheuser-Busch InBev