Constellation Brands price target lowered to $195 from $225 at Bernstein

Bernstein lowered the firm’s price target on Constellation Brands (STZ) to $195 from $225 and keeps an Outperform rating on the shares. The firm notes that earlier this week, Constellation meaningfully cut its 2026 guidance. Lower guided corporate expense and net interest expense are offset by lower equity in earnings and a higher comparable tax rate, bringing the cut to EPS guidance to about 10%.