Constellation Brands is ‘controlling the controllables’, says Needham

Needham analyst Gerald Pascarelli keeps a Buy rating and $180 price target on Constellation Brands (STZ) after its Q2 results. The company outperformed expectations, delivering better than expected beer revenue and operating margin, resulting in an EPS beat, the analyst tells investors in a research note. The management team is controlling the controllables, but while the beat was encouraging, it will likely do little to improve the long-term investor sentiment on the stock, the firm added.