While reaffirming its 'neutral' recommendation on AB InBev, UBS is raising its target price from 58 to 63.5 euros, a new target which implies a potential upside of 8% for the share of the Belgian brewer, operator of brands such as Stella Artois, Leffe and Budweiser.

According to the broker, 'solid pricing, a softening of the cost of goods sold and a focus on G&A efficiency should accelerate organic EBITDA growth above the 4-8% target for the coming quarters'.

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