Constellation Brands price target lowered to $152 from $180 at TD Cowen

TD Cowen lowered the firm’s price target on Constellation Brands (STZ) to $152 from $180 and keeps a Hold rating on the shares. The firm noted they lowered their FY26 organic growth outlook to -6% to -4% from -2% to +1% due to weak beer sales. The guidance reduction exceeded expectations and reinforced the cautious view the firm expressed earlier about velocity declines in beer offsetting the benefits of expanding distribution.