Price Target Update on Ambev S.A. (NYSE:ABEV)

Ambev S.A. (NYSE:ABEV) : The highest short term price target forecast on Ambev S.A. (NYSE:ABEV) is $7 and the lowest target price is $5. A total of 4 equity analysts are currently covering the company. The average price of all the analysts is $5.78 with a standard deviation of $0.93.

Other Equity analysts have also commented on the company shares. Brokerage firm JP Morgan downgrades its rating on Ambev S.A. (NYSE:ABEV). As per the latest information, the brokerage house lowers the price target to $5 per share from a prior target of $5.1. The shares have been rated Neutral. Previously, the analysts had a Overweight rating on the shares. The rating by the firm was issued on May 5, 2016.

Ambev S.A. (NYSE:ABEV): stock turned positive on Thursday. Though the stock opened at $5.45, the bulls momentum made the stock top out at $5.54 level for the day. The stock recorded a low of $5.44 and closed the trading day at $5.54, in the green by 3.17%. The total traded volume for the day was 5,416,544. The stock had closed at $5.37 in the previous days trading.

The company shares have dropped -11.24% from its 1 Year high price. On Jul 16, 2015, the shares registered one year high at $6.30 and the one year low was seen on Jan 21, 2016. The 50-Day Moving Average price is $5.37 and the 200 Day Moving Average price is recorded at $4.92.

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.

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