ANHEUSER-BUSCH INBEV (OP, TP EUR118.00): Our LatAm team u/g Ambev to OP, citing a more upbeat outlook in LatAm, combined c25% of ABI net sales. These markets have been headwinds over the past few yrs, but the macro and comp environment is becoming more favorable. We raise our FY18/19 ABI EPS est by c1.5% on the back of better vol growth in these markets and FX tailwinds. ABI is demonstrating solid progress on org growth, as its market share is growing across most of its key markets exUS. We exp further market share momentum for ABI as the Heineken/Kirin integration and route to market change away from the Coke system incurs some disruption.