Belgium: KBC ups InBev to accumulate

KBC upgraded InBev to accumulate from reduce after "share price weakness in recent weeks," Dow Jones Newswires released June 23.

Analyst Wim Hoste keeps his earnings model and EUR40 target price unchanged. Analyst Hoste also discounts importance of potential distribution agreement with Anheuser-Busch in the US, saying that InBev's US volumes represent only 4.7 million hectoliters last year out of a group total of 235.6 million hectoliters. Shares of InBev went +0.6% to EUR36.24.

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