Stock Track | BUD APAC Shares Soar 5.33% After Jefferies Raises Price Target

Stock Track09-30

Shares of Budweiser Brewing Company APAC Limited (HKG:1876) surged 5.33% on Monday, September 30, 2024, following a positive analyst action from Jefferies.

Jefferies adjusted its price target for BUD APAC to HK$13.10 from HK$13, while maintaining a "Buy" rating on the stock. The investment bank's bullish stance on the company's prospects appears to have fueled investor optimism, driving the stock's significant gains during the trading session.

Despite the recent share price rally, BUD APAC has faced challenges in recent years, with its earnings and share price declining over the past five years, leading to a 64% loss for shareholders during that period, according to an analysis by SimplyWallSt. However, the positive analyst action from Jefferies suggests that the company's outlook may be improving, prompting investors to reassess their positions in the stock.

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