Bernstein cuts Ambev stock price target to $2.57, keeps Outperform By Investing.com
On Thursday, Bernstein analysts adjusted their outlook on Ambev S.A. (NYSE:ABEV) shares, reducing the price target from $3.08 to $2.57, while maintaining an Outperform rating. Currently trading at $1.84, InvestingPro analysis suggests the stock is undervalued. The change reflects the impact of the weaker Brazilian Real (BRL) and incorporates the latest industry and macroeconomic data.
The analysts at Bernstein pointed out that despite the price target adjustment, Ambev continues to present compelling fundamentals with an attractive valuation. With a market capitalization of $29.4 billion, P/E ratio of 12.8, and gross margin of 51%, the company shows strong operational efficiency.
They highlighted the company’s approximately 11%…
