Still lagging from the the COVID-19 pandemic, Brazil and its alcoholic beverage market are slowly coming back. This is good news for AmBev SA (ABEV), Brazil’s largest brewing company, which has recently seen improving forecasts and indicators. (See ABEV stock charts on TipRanks)  Detailing these developments is Robert Ottenstein of Evercore ISI, who wrote that although the COVID-19 situation in Brazil is still impacting society, the country’s economy and business conditions are improving. He wrote that vaccination rates and AmBev’s technological advancements were driving a positive outlook for the company.   Ottenstein reiterated a Buy rating on the stock, and declared a price target of $5, reflecting a possible 12-month upside of 41.64%.
https://www.tipranks.com/news/article/ambev-sa-has-an-intoxicating-outlook
Ambev (NYSE:ABEV)
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Ambev (NYSE:ABEV)
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From Nov 2020 to Nov 2021 Click Here for more Ambev Charts.