Ambev SA (ABEV) Got Some Bad News

By Ryan Adsit

In a report released today, Benjamin Theurer from Barclays downgraded Ambev SA (ABEVResearch Report) to Sell, with a price target of $3.50. The company’s shares closed last Monday at $4.24.

Theurer has an average return of 1.3% when recommending Ambev SA.

According to TipRanks.com, Theurer is ranked #1421 out of 5723 analysts.

Ambev SA has an analyst consensus of Hold, with a price target consensus of $4.50.

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Based on Ambev SA’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $629 million. In comparison, last year the company had a net profit of $717 million.

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Ambev SA engages in the production, distribution, and sale of beverages. Its products include beer, carbonated soft drinks, and other non-alcoholic and non-carbonated products. The company operates through the following segments: Latin America North, Latin America South, and Canada.