Bud Light Will Permanently Lose Nearly a Fourth of Its Business: Analysts
Some of Bud Light’s problems could be permanent, according to an analyst in a new note about the beleaguered brand in the wake of a boycott over its partnership with Dylan Mulvaney.
“We believe recent underperformance implies a permanent reduction in ABI’s U.S. business,” Deutsche Bank analyst Mitch Collett wrote for Barron’s, referring to Anheuser-Busch InBev, the parent company of Bud Light. “Our proprietary survey data suggests these headwinds are likely to fade even if we do not expect the U.S. business ever to fully recover from its current challenges.”
Collett also upgraded shares of AB InBev to “buy” from “hold,” increasing the price target to $65.92 from $64.83, according to Barron’s….