Anthony Bucalo

"SABMiller has made a mint by purposely buying cheaper assets," says Bear, Stearns & Co. (BS ) analyst Anthony Bucalo.

SABMiller has been smart in its positioning of the flagship Snow brand.

Bear Stearns analyst Anthony Bucalo writes:

We believe that Anheuser-Busch will not be pleased with out-of-stocks in the first year of a long-term deal.InBev management made a point that fixing the U.S. supply chain is a top priority.

Labatt USA -- InBev's shrunken sales arm following the European brand shift to A-B -- also has its work cut out for it.While Bucalo says it "probably" will work in the long term, things look "bumpy" in the short term given that it no longer has star performer Stella Artois.

Bucalo writes:

"SABMiller has made a mint by purposely buying cheaper assets," says Bear, Stearns & Co. (BS ) analyst Anthony Bucalo.

Bear Stearns analyst Anthony Bucalo writes:

We believe that Anheuser-Busch will not be pleased with out-of-stocks in the first year of a long-term deal.InBev management made a point that fixing the U.S. supply chain is a top priority.

Labatt USA -- InBev's shrunken sales arm following the European brand shift to A-B -- also has its work cut out for it.While Bucalo says it "probably" will work in the long term, things look "bumpy" in the short term given that it no longer has star performer Stella Artois.

Bucalo writes: