Elliott Fishman Anheuser Busch Companies Inc. BUD-N HOLD Aug 28, 2018

Stockchase Research Editor: Michael O'Reilly Recently reported earnings support the ability of BUD to be able to pass along rising costs to consumers, making it a good inflation hedge. It continues to expand its product line beyond just its iconic beer and has established a strong brand affiliation with the NFL (whose league will begin again soon). Growth in next year's earnings are expected to value the company at 15x earnings compared to peers at 19x. It trades at just 1.4x book value. It has used prudently used some cash reserves to aggressively retire debt early. We recommend at stop loss at $46, looking to achieve $73 - upside potential of 33%. Yield 0.75% (Analysts’ price target is $73.00)

Stockchase Research Editor: Michael O'Reilly We reiterate this iconic brand as a TOP PICK. Growth in next year's earnings are expected to value the company at 15x earnings compared to peers at 19x. Management continues to exploit its low cost advantage and operational efficiencies. It trades at just 1.2x book value. We like that it has grown cash reserves while aggressively retiring debt. We continue to recommend at stop loss at $46, looking to achieve $65 - upside potential of 32%. Yield 0.81% (Analysts’ price target is $65.28)

(A Top Pick May 12/22, Down 15.8%)Stockchase Research Editor: Michael O'Reilly Our PAST TOP PICK with BUD has triggered its stop $46. To remain disciplined, we recommend covering the position at this time.