Chile's Leading Brewer Still A Buy Despite Political Jitters [Seeking Alpha]
Compania Cervecerias Unidas, S.A. (CCU)
US:NYSE Investor Relations:
unitedbreweries.com/investors
Company Research
Source: Seeking Alpha
Summary Chile's dominant beer brewer saw shares fall more to end 2019, and dropped 40% from its highs for the year. The company's stock price is down as much as the overall Chilean index, which isn't justified as beverages are a stable, defensive industry. I'm bullish on Chilean stocks in 2020. Even if Chile underperforms my expectations, Compania Cervecerias Unidas should perform well as a defensive holding. In August, I suggested buying the dip CCU I stand by that piece of analysis. As it is, Argentine stocks have come roaring back in recent weeks - many individual issues there are up 50-100% since the October lows; CCU's beer sales in Argentina will be fine. However, what I didn't foresee was that CCU's home market - Chile - would soon end up embroiled in political turmoil of its own. I described the goings on in my article last month: Down 25% Year-To-Date, Buy Chile On Overblown Political Fear Regardless, Chilean stocks fell too far, and have started to recover in recent weeks. B
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News
- Compañía Cervecerías Unidas S.A. (NYSE: CCU) had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $10.50 to $9.40. They now have a "sell" rating on the stock.MarketBeat
- Compañía Cervecerías Unidas S.A. (NYSE: CCU) was upgraded by analysts at Scotiabank from a "hold" rating to a "strong-buy" rating.MarketBeat
CCU
Sec Filings
- 11/7/24 - Form 6-K
- 11/6/24 - Form 6-K
- 11/6/24 - Form 6-K
- CCU's page on the SEC website