Ambev’s Run Faces Doubts With Goldman, BTG Sending Mixed Messages
Ambev shares closed at 16.35 reais in São Paulo Friday, up from 16.29, outperforming a falling Ibovespa. BTG Pactual upgraded Ambev to buy for the first time in 13 years, citing pricing power, while Goldman Sachs maintained a sell rating, warning of limited price hike potential and weaker beer demand. Ambev’s Q1 net revenue rose 8.1% with flat volumes. The company will pay interest on capital of 0.0755 real per share July 6.