A managing director at HSBC’s global beverage sector downgraded the stock of Anheuser-Busch InBev to a hold status.
“Is ABI’s leadership getting the brand culture transformation right? It’s mixed,” Laboy wrote in a note that was published on Wednesday.Bud Light crisis came about a month ago
“Why did its US leadership underestimate the risk of pushback given the recent experience of other firms?” Laboy wrote.“If Budweiser and Bud Light are iconictogether, why did these marketers fail to invite new consumers without alienating the core base of the firm’s largest brand?” Laboy asked. InBev was an independent company that was created as a result of the 2004 merger between Brazil-based Ambev and Belgian firm Interbrew.
An HSBC analyst downgraded Anheuser-Busch InBev stock due to backlash over the partnership with Mulvaney.Laboy’s note was written as market data shows that beer drinkers are shunning Bud Light in increasing numbers.— worse than the 21.4% decline it suffered a week earlier, according to Bump Williams Consulting and NielsenIQ data.The company’s flagship Budweiser brand took an 11.4% sales hit for the week ended April 29.
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