4 big analyst picks: AB InBev earns an upgrade amid Bud Light controversy sell-off
Here is your Pro Recap of the biggest analyst picks you may have missed since yesterday: initiation at Freshworks, upgrades at Anheuser-Busch InBev, XP, and Olo.
InvestingPro subscribers got this news first. Never miss another market-moving headline.
Anheuser-Busch InBev earns an upgrade from Morgan Stanley
Morgan Stanley upgraded Anheuser Busch Inbev (NYSE:BUD) to Overweight from Equalweight and raised its price target to $68.50 from $64.00, naming it the Top Pick in the sector amid the sell-off on the Bud Light controversy.
While investors are currently sitting on the sidelines, waiting for the company to fully quantify the impact of the Bud Light situation, we see upcoming H1 results as likely timing for such clarification.
The firm's EPS projections for fiscal 2023 are in line with the Street estimates, but for 2024, they are slightly ahead given gross margin improvement.
Freshworks started with Buy at UBS
UBS initiated coverage on Freshworks (NASDAQ:FRSH) with a Buy rating and a price target of $21.00, holding a more positive outlook on the revenue growth potential compared to the Street. UBS estimates over 20% growth in fiscal 2025. This assessment is based on feedback received from 7 checks and 23 survey participants.
Given the stabilization of demand trends, UBS anticipates that investors will shift their focus from margins to future revenue growth. This shift could benefit companies like Freshworks, which have the potential to rebound quickly in an improving macroeconomic environment.
2 more upgrades
Xp (NASDAQ:XP) shares gained more than 5% yesterday after Credit Suisse upgraded the company to Neutral from Underperform and raised its price target to $26.00 from $15.00, as reported in real time on InvestingPro.
Piper Sandler upgraded Olo (NYSE:OLO) to Overweight from Neutral with a price target of $9.00. As a result, shares rose more than 6% yesterday.
Jump on the biggest news for your portfolio amid a barrage of market headlines: Always be the first to know with InvestingPro.
Start your free 7-day trial now.
Related Articles
4 big analyst picks: AB InBev earns an upgrade amid Bud Light controversy sell-off
India stocks lower at close of trade; Nifty 50 down 1.17%
Dow futures climb as rally continues; earnings, Fed meeting in focus
