Anheuser-Busch InBev is a buying opportunity even after its controversial handling of a social media campaign involving a transgender influencer, according to Morgan Stanley.
Simon called the parent company behind Bud Light a top pick that's attractively valued after its decline this year.
"We see a very favourable risk reward underpinned by attractive valuation," Simon wrote to clients on Thursday.
BUD 1D mountain Anheuser-Busch InBev shares 1-day The analyst raised her price target to $68.50 from $64, which represents about 17% upside for Anheuser-Busch InBev from Wednesday's closing price.
Anheuser-Busch InBev has come under pressure in the U.S. this year after it partnered with transgender influencer Dylan Mulvaney for promotions of Bud Light.
Persons:
Morgan Stanley, Sarah Simon, Simon, Bud Light, Bud, BUD, influencer Dylan Mulvaney, — CNBC's Michael Bloom
Organizations:
Anheuser, Busch InBev, Busch, Brewers
Locations:
U.S