Robert Moskow, an analyst from TD Cowen, maintained the Hold rating on Molson Coors (TAP – Research Report). The associated price target was lowered to $55.00.
Robert Moskow has given his Hold rating due to a combination of factors influencing Molson Coors’s current and future performance. The company’s recent financial results fell short of expectations, with a significant decline in organic sales and earnings per share. Management attributed these results to adverse weather conditions and broader economic uncertainties, which have impacted consumer demand.
Additionally, while the company has adjusted its future outlook, there are concerns about whether these projections are sufficiently conservative. The anticipated recovery in the second half of the year relies on several assumptions, such as improved weather and consumer behavior, which carry inherent risks. Furthermore, the decision to cut capital expenditures raises questions about the potential impact on operational efficiency and long-term growth. These factors contribute to the Hold rating, reflecting a cautious stance on the stock’s near-term prospects.
In another report released yesterday, Morgan Stanley also maintained a Hold rating on the stock with a $58.00 price target.