What exactly changed in the Morgan Stanley note on February 18, 2026?

Morgan Stanley maintained **Overweight** on BUD and raised its price target from **EUR 66.50 to EUR 74** on February 18, 2026. The firm kept its positive stance while updating valuation assumptions based on recent results.

How should investors read a maintained rating versus an upgrade or downgrade?

A maintained rating, like Morgan Stanley’s Overweight on BUD, is a reaffirmation of the analyst’s view. It signals confidence but is not as strong as an upgrade. It means the firm expects outperformance but made no change to recommendation.

Does the new price target change the stock outlook for Anheuser-Busch InBev?

Raising the price target to **EUR 74** improves implied upside and reflects improved expectations for margins or growth. It supports a more constructive outlook but should be weighed against market price, guidance, and macro risks.

Where can I read the Morgan Stanley price target note and recent earnings call?

The Morgan Stanley price target change was reported by TheFly [source](https://thefly.com/permalinks/entry.php/id4295352/4361286394/BUD-AB-InBev-price-target-raised-by-EUR--at-Morgan-Stanley). The Q4 2025 earnings call transcript is available on Seeking Alpha [source](https://seekingalpha.comarticle

Analyst Ratings

Morgan Stanley Maintains Overweight on BUD Anheuser-Busch InBev Feb 2026

ByHuzaifa Zahoor February 19, 2026

Morgan Stanley on February 18, 2026 maintained an Overweight rating on Anheuser-Busch InBev SA/NV (BUD) and raised its price target to EUR 74 from EUR 66.50. The move is recorded at 11:58 AM and follows AB InBev’s recent Q4 2025 results and guidance. The BUD analyst rating update signals continued confidence from a major sell-side desk while leaving the call at Overweight rather than upgrading outright. Investors should note the new price target and how it ties to valuation and medium-term EPS expectations.