Bernstein said Bud Light volume will continue to decline, but remains bullish on AB InBev’s stock going forward. The company has reiterated its outperform rating on Anheuser-Busch with a $71.60 price target, representing a 30% increase from Monday’s closing price. Analyst Trevor Stirling noted that the massive stock sell-off stemmed from a customer backlash to the company’s social media partnership with a largely transgender influencer. “too much”. Shares of AB InBev fell more than 17% in the second quarter. BUD YTD Mount BUD in 2023 He noted that the company’s “Stub ABI” segment — excluding Bud APAC and Ambev — is currently trading at an all-time low multiple. “We believe this is an attractive entry point ahead, as raw material inflation eases and translates into better margins,” Stirling said. However, he said Bud Light volumes could continue to suffer after falling about 30% in the US in the second quarter. “We also expect Bud Light volume to be permanently cut by -15% with active leverage-related drag,” the analyst said. Last month, HSBC downgraded Anheuser-Busch InBev’s stock from what the company called the “Bud Light crisis” and noted that the company may be facing bigger problems than it already has. want to admit. — Michael Bloom of CNBC contributed to this report.