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A popular ad campaign may be spurring alcohol sales, according to Morgan Stanley.
The firm cited Nielsen data that revealed one-month U.S. beer sales through June 16 rose 3.3 percent year over year, improving from the results over the previous 12-week and 52-week periods.
Anheuser-Busch Inbev, the owner of the Bud Light brand, was a standout, with 1.9 percent volume growth in the one-month period through June 16.
“The biggest improvement came from ABInBev, which gained share for the first time since 2011,” analyst Olivier Nicolai said in a note to clients entitled “Robust demand in June; ABInbev outperforming; Dilly Dilly effect?” Tuesday. “Both Budweiser and Bud Light posted improved momentum in June, down by just -1.4% and -2.3% in volume terms respectively. Dilly Dilly effect?”
Anheuser-Busch Inbev launched its “Dilly Dilly” campaign, created by the Wieden+Kennedy ad agency, in August of last year. The ads feature fictional medieval characters toasting each other with the catchphrase. The campaign became a viral, cultural phenomenon.
Morgan Stanley has an overweight rating for Anheuser-Busch Inbev shares.