BofA Global Research upgraded BUD to "buy" from "neutral"
Anheuser-Busch Inbev SA (NYSE:BUD) stock is getting a solid boost today, after an upgrade from BofA Global Research to "buy" from "neutral," with a price-target hike to $68. The firm sees margins expanding as the recent Bud Light backlash subsides. At last glance, BUD was up 3.7% at $55.53.
The stock could be seeing some pressure at the overhead $55 level, which acted as support for most of this year. BUD's rally this month was also firmly rejected by its descending 100-day moving average. Since the start of the year, the equity is down 7.5%.
Of the nine analysts in coverage, six now carry a "buy" or better rating, with three a tepid "hold." Meanwhile, the 12-month consensus price target of $67.19 is a 21.1% premium to current levels.
When weighing in on Anheuser-Busch stock, options look like a good way to go. The stock's Schaeffer's Volatility Index (SVI) of 21% ranks in the 19th percentile of its annual range, meaning options traders are pricing in low volatility expectations at the moment.