Constellation Brands price target lowered to $142 from $150 at BofA

BofA analyst Peter Galbo lowered the firm’s price target on Constellation Brands (STZ) to $142 from $150 and keeps an Underperform rating on the shares after the company lowered its FY26 outlook ahead of presenting at an industry conference. The negative update was “largely in line with our downgrade report last week, albeit worse than expected,” says the analyst, citing the inventory destock headwind and greater margin deleverage than the firm had anticipated. Following the guidance update, the firm lowered its FY26, FY27 and FY28 adjusted EPS estimates.