The Ratings Game: It’s unclear how Anheuser-Busch InBev will reverse falling U.S. volumes after Bud Light crisis, say analysts

It’s unclear how Anheuser-Busch InBev will reverse eroding U.S. volume in light of the Bud Light crisis, analysts at HSBC said in downgrading the stock to hold.

Sales of Bud Light have tumbled in the U.S. since Anheuser-Busch InBev BUD had a brief online marketing tie-up with transgender influencer Dylan Mulvaney.

HSBC cited data from Beer…