BofA lowered the firm’s price target on Constellation Brands (STZ) to $195 from $205 and keeps a Neutral rating on the shares. The company’s Q4 results and strategic announcement should enable Constellation to outpace its categories and produce more consistent performance relative to targets, the analyst tells investors in a research note. The firm sates calving off popular price wine brands and assets reduces complexity and ends the “odyssey-like pursuit of turning it around.”
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Read More on STZ:
- Constellation Brands’ Earnings Call Highlights Resilience and Strategy
- Constellation Brands price target lowered to $196 from $201 at Jefferies
- Constellation Brands price target lowered to $215 from $260 at BMO Capital
- Constellation Brands price target lowered to $195 from $202 at Morgan Stanley
- Strategic Positioning and Growth Potential: A Buy Recommendation for Constellation Brands