Morgan Stanley analysts adjusted their price target for Anheuser-Busch InBev (NYSE:BUD) to $68.50 from $69.00, while still recommending an Overweight rating. Morgan Stanley’s update incorporates the latest market data and currency valuations, noting that operational forecasts globally are nearly unchanged, with a slight increase in expected volumes for fiscal year 2024.

Adjustments were also made to reflect the impact of hyperinflation on pricing rather than revenue, although this doesn’t alter the fundamental forecasts. An increase in non-interest financial expenses for 2024 by $200 million has been included to account for the effects of Naira devaluation. Consequently, the EPS forecast for 2024 has decreased by 1%, while the forecast for 2025 has increased by 1%, leading to the revised price target.

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