Beer sales have increased nationally for the first time since 2008, according to the Beer Institute, possibly signaling a recession recovery at last.

In areas of the U.S. where the unemployment rate is low, beer sales have remained strong as the local and national economies have not prevented affluent consumers from enjoying a cold lager or flavorful microbrew. 

Due to recent outperformance, Morgan Stanley downgraded Molson Coors (TAP) to "underweight" on Monday after the company reported an 18% rise in share value since its June 4 low, beating expectations that were for 7%. Molson Coors currently accounts for about one-quarter of the U.S. beer market.

Credit Suisse also recently raised estimates on Anheuser-Busch InBev (BUD), noting the U.S. has more leverage margin-wise on price vs. volume in relation to other markets.

The campaign for beer sales never rests and companies are continually rolling out new products. Molson Coors recently released (in select markets) its Coco Breve malt beverage, which contains coconut water and Redd's (an apple flavored ale).

Anheuser-Busch shares are down slightly in midday trading Wednesday, but closed up 2.04% on Tuesday and are up 44.99% year to date. Molson Coors' shares are flat pre-market and year to date are down only 0.6%. Boston Beer Co. (SAM) shares are up slightly Wednesday and are down 0.65% year to date.

With the exception of Anheuser-Busch, share values do not reflect the recent spike in beer sales as production and shipment costs have impacted shares as well as recent tax increases from the Brazilian government. Analysts believe that beer companies will need to raise the prices of products (3% to 4%) in order to accommodate the tax hikes.

Citigroup believes that when compared to the food and/or tobacco companies, beer industry profits tend to be more volatile, with just below half of those profits coming from the U.S. Brazil's infrastructure revamp has increased shipments and profitability in South America, but has time before profits start to ramp up exponentially as expected.

In Molson Coors' most recent earnings release, the company reported earnings per share (EPS) of $1.38 versus analysts $1.14 estimate, largely thanks to the Starbev contribution (despite losing market share in the U.S. and Canada). Though valuation remained enticing, analysts at Goldman Sachs remain "neutral" on shares ahead of further increases in sales.

In other beer news, Heineken (HINKY) announced its cancellation of a 2.5 billion euro bridge loan to fund its acquisition of Asia Pacific Breweries, as the company won full control of the Tiger beer maker last week. Shares are flat in trading Wednesday after closing up 3.22% on Tuesday. Year to date, Heineken shares are up 33.56%.

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