Brokerage firm Morgan Stanley Downgrades its rating on Ambev SA (ADR)(NYSE:ABEV). In a research note issued to the investors, the brokerage major Raises the price-target to $6.40 per share. The shares have been rated Equal-weight. Previously, the analysts had a Overweight rating on the shares. The rating by Morgan Stanley was issued on Aug 18, 2016.
Ambev SA (ADR) (ABEV) made into the market gainers list on Mondays trading session with the shares advancing 1.54% or 0.09 points. Due to strong positive momentum, the stock ended at $5.95, which is also near the day’s high of $5.97. The stock began the session at $5.88 and the volume stood at 3,92,92,454 shares. The 52-week high of the shares is $6.32 and the 52 week low is $3.86. The company has a current market capitalization of $93,520 M and it has 15,71,76,15,000 shares in outstanding.
Ambev SA known as Inbev Participacoes Societarias SA is a Brazil-based company engaged in the brewers sector. Ambev produces distributes and sell beer carbonated soft drinks (CSDs) and other non-alcoholic and non-carbonated products across the Americas. The Company conducts its operations through three business units: Latin America North includes its operations in Brazil where Ambev operates two divisions: beer sales (Beer Brazil) and carbonated soft drinks and non-alcoholic non-carbonated sales (CSD & NANC Brazil) and its Hispanic Latin America Operations Excluding Latin America South (HILA-Ex) which includes its operations in the Dominican Republic Venezuela Ecuador Guatemala (which also serves El Salvador and Nicaragua) and Peru; Latin America South includes its operations in Argentina Bolivia Paraguay Uruguay and Chile and Canada among others.