UBS analyst Peter Grom lowered the firm’s price target on Constellation Brands (STZ) to $195 from $205 and keeps a Buy rating on the shares ahead of the Q1 earnings report on July 1. UBS does not think the print will prove to be a positive catalyst for shares, with the near-term set up remaining difficult, though this is largely anticipated and priced in, the analyst tells investors in a research note. A return to historical levels of growth is unlikely given category challenges, but UBS sees a path to low single digit organic revenue growth and mid single digit EPS growth over time.
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