Bonnie Herzog, an analyst from Goldman Sachs, maintained the Buy rating on Molson Coors (TAP – Research Report). The associated price target was lowered to $77.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Bonnie Herzog has given her Buy rating due to a combination of factors that suggest a potential upside for Molson Coors. Despite the disappointing Q1 results, which were impacted by macroeconomic challenges and competitive pressures, Herzog sees these results as a potential turning point for the company. The lowered expectations could set a more achievable benchmark for future performance.
Furthermore, Herzog is encouraged by Molson Coors’s strategic efforts to diversify and premiumize its product portfolio, which includes strengthening its core brands like Coors Light and Miller Lite. The company has also maintained significant shelf space gains, which is a positive indicator. Additionally, Herzog notes the company’s ongoing innovation, which could drive future growth and support the Buy rating.
In another report released on May 9, Bank of America Securities also reiterated a Buy rating on the stock with a $65.00 price target.
Based on the recent corporate insider activity of 48 insiders, corporate insider sentiment is neutral on the stock.