NEW YORK (TheStreet) -- Shares of Anheuser-Busch InBev (BUD) are sliding, down 2.33% to $118.56 on heavy volume in afternoon trading Monday, after analysts at CLSA downgraded the company two notches to "underperform" from "outperform" this morning.
Last month, the beer company had coverage initiated by analysts at Susquehanna with a "neutral" rating and a price target of $133 on shares.
Analysts cite foreign exchange concerns along with sluggish volume trends in key markets.
About 1.41 million shares of Anheuser Busch have exchanged hands as of 3:02 p.m. ET, compared to its average trading volume of about 934,638 shares a day.
Belgium-based Anheuser Busch Inbev SA, formerly Anheuser-Busch InBev SA/NV, is a brewing company that produces, markets, distributes and sells a balanced portfolio of about 200 beer brands.
