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Constellation Brands’ depletion momentum continued in March, says Roth Capital

Roth Capital keeps a Buy rating and $209 price target on Constellation Brands (STZ) ahead of its Q4 results. The firm notes that the company’s constellation depletion trends accelerated throughout the reporting period of December through February, with momentum continuing in March. Consumption improvement before key summer season should help shipments rebound in March and suggests favorable consumer patterns have returned, while the cost concerns related to Veracruz are overstated, the analyst tells investors in a research note.

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