Constellation Brands price target lowered to $239 from $256 at Roth Capital

Roth Capital lowered the firm’s price target on Constellation Brands (STZ) to $239 from $256 but keeps a Buy rating on the shares as part of a broader research note updating the firm’s models and notes that the “worst is over”. Beer brewers reported a significant deceleration and lowered expectation in the most recent reporting quarter, but weakness was most pronounced in February, and the firm sees similar timing across many sectors, the analyst tells investors in a research note, citing softer than expected sales at Sysco (SYY), Walmart (WMT), and Delta Air Lines (DAL). February featured a confidence shock that consumers are gradually adapting to, but Beer consumption will improve off a difficult Q1, Roth added.