Citi analyst Filippo Falorni lowered the firm’s price target on Constellation Brands (STZ) to $170 from $190 and keeps a Neutral rating on the shares ahead of the fiscal Q report on July 1. The firm believes buy-side expectations for Q1 beer depletions are in the down low-single-digit range based on client conversations in recent weeks. The market will question the sequential acceleration post Q1 despite easier comps given the continued weakness of the U.S. beer category, the analyst tells investors in a research note.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on STZ:
- ICE raids have pushed many Latino shoppers into hiding, WSJ says
- Constellation Brands Completes Wine Brands Sale to The Wine Group
- Constellation Brands price target lowered to $239 from $256 at Roth Capital
- The Last Dance: Warren Buffett Doubles Down on These 2 Stocks
- Coca-Cola Stock (KO) Remains a Berkshire Hathaway Favorite
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue