Constellation Brands price target lowered to $190 from $215 at BMO Capital

BMO Capital lowered the firm’s price target on Constellation Brands (STZ) to $190 from $215 but keeps an Outperform rating on the shares. The company has meaningfully lowered its FY26 outlook provided only two months ago, reflecting softer Beer demand and distributor inventory rebalancing, the analyst tells investors in a research note. BMO adds that it is not convinced that this is the last cut as Constellation Brands continues to assume current demand levels in its outlook, even though it doesn’t have the evidence that trends have stabilized.