With Anheuser-Busch InBev (NYSE: BUD), the parent company of Bud Light, recovering from the aftershocks of the controversial ad campaign that had shattered the sales of its most well-known beverage as well as its stock price, some experts believe it may advance further in the next 12 months.
As a reminder, the BUD stock suffered greatly in 2023, particularly from May, with the onset of the boycott in the United States sparked by the campaign featuring a transgender influencer, until October, when the boycott finally ended, and the company scored a major sponsorship deal with the UFC.
Wall Street weighs in on BUD
As it happens, a group of Wall Street analysts is bullish on the price of the BUD stock, rating it as a ‘Strong Buy’ almost unanimously based on its performance in the past months. Namely, five of these experts have declared it a ‘Strong Buy,’ whereas only one rated it as a ‘Hold’ for the time being.
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On top of that, they have offered a high price prediction of $79.00 for the price of Anheuser-Busch InBev per share and a low of $66.30, as well as the average price target of $70.60, representing a nearly 12% advance from its previous trading session.
Bud Light stock price analysis
At press time, the price of BUD stock stood at $63.15, which represents a decline of 0.38% on the day but nonetheless an increase of 0.86% across the previous week, a 7.27% advance over the month, and a 14.82% gain in the last six months, as per data on December 5.
All things considered, the BUD stock seems to, indeed, have managed to recover from the period of hardship, considering its current price is also 4.71% higher than on January 1, 2023, and is looking at a brighter future, particularly in the light of new partnerships and large investments, such as that by Bill Gates.
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