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Anheuser Busch Is Upgraded at Bank of America as Debt Picture Gets Clearer

Tony Owusu

shares were up 1.3% on Friday to $86.13 after the beer maker was upgraded to neutral from underperform at Bank of America Merrill Lynch as the firm said that the company's story is changing as headwinds don't look so daunting. Bank of America analyst Fernando Ferreira said concerns remain about company's high debt levels but noted that Ferreira notes that the maker of Budweiser has made an effort to lower its leverage.