27 April, 2005

USA: Anheuser-Busch was downgraded at JP Morgan to neutral because of valuation

New York: On April 22, analysts at J.P. Morgan Securities downgraded Anheuser-Busch from "overweight" to "neutral."

In a research note published on April 22, the analysts mention that the downgrade in rating is based on valuation. The current valuation of Anheuser-Busch’s stock fully reflects the company’s robust cash generation capabilities and its track record of providing adequate returns to shareholders, the analysts say. The domestic beer industry is likely to witness sluggish revenue growth in the near term, JP Morgan adds.

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