Stock price when the opinion was issued
Good time to buy? Yes. Want to get good risk/reward. Around $48 there was resistance in late part of 2015-16. It’s held at that level in 2017-18. As long as we hold around $48. Really predictable revenue, strong global brand, and global reach is really critical in this competitive market. Would buy at this level. If it broke $48, would be concerned about thesis.
Beer business. The world’s only true global brand. 2/3rds of their revenue comes from emerging markets. It had a takeover offer that they turned down, but then embarked on massive cost cutting.