Anheuser-Busch InBev stock slips as analysts stay bullish

Published on 09/23/2026 at 15:10 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Anheuser-Busch InBev stock closed at USD 78.20 on September 22, 2026, while JPMorgan kept a EUR 79.88 target. Q2 revenue reached USD 16.66 billion.

Kupferne Brauereikessel mit Hopfenpflanzen in industrieller Braustätte — Kupferne Sudkessel mit Hopfenpflanzen zeigen die Braukunst von Anheuser-Busch InBev, ISIN BE0974293251, weltgrößter Brauerei-Konzern, Illustration mit AI erstellt.

Anheuser-Busch InBev (ISIN BE0974293251) closed at USD 78.20 on Nasdaq on September 22, 2026, up 0.32 percent from the prior close. The latest analyst updates remain constructive, while the company's second-quarter figures provide the main operating benchmark for the stock.

Analysts keep targets unchanged

According to Zonebourse on September 23, 2026, JPMorgan maintained its Buy view on Anheuser-Busch InBev and left its price target at EUR 79.88. The unchanged target matters because the share price was quoted at EUR 67.68 on Euronext Brussels at 2:35 p.m. on the same date, leaving a difference of EUR 12.20.

Zonebourse also reported on September 23, 2026 that Berenberg retained its Buy recommendation and an EUR 89 target. The two targets differ by EUR 9.12, giving investors a concrete measure of the range between the named bank views.

Second-quarter revenue sets the base

AB InBev's investor page identifies second-quarter 2026 results dated July 30, 2026. The page lists net revenue of USD 59.3 billion and normalized EBITDA of USD 21.2 billion in its displayed company figures, while the Yahoo Finance data show Q2 FY26 revenue of USD 16.66 billion and earnings of USD 3.75 billion for the quarter.

The comparison with expectations is visible in the same data set: Q2 FY26 actual earnings were USD 1.21 per share versus an estimate of USD 1.14, a USD 0.07 beat. The reported profit margin was 22.52 percent, making earnings delivery more important than the unchanged analyst targets for the next market reaction.

Stock holds a positive yearly gain

On September 23, 2026, the Euronext Brussels quote stood at EUR 67.68, down 0.97 percent on the day and up 23.28 percent since January 1. The move places the stock's current performance beside a still-positive full-year return, but the separate EUR and USD listings must not be mixed in a single price comparison.

For the US-listed ADR, Yahoo Finance recorded USD 78.20 at the close on September 22, 2026, with a market capitalization of USD 153.986 billion and the next earnings date listed as October 29, 2026. The ADR data provide a dated US-market reference, while Euronext Brussels remains the primary listing for the Belgian issuer.

Targets contrast with the valuation

Anheuser-Busch InBev stock therefore combines a 23.28 percent year-to-date gain with unchanged targets of EUR 79.88 and EUR 89 from JPMorgan and Berenberg. The operating checkpoint is the USD 0.07 Q2 FY26 earnings beat, while the next company reporting date shown by Yahoo Finance is October 29, 2026.