Constellation Brands price target raised to $154 from $142 at BofA

BofA raised the firm’s price target on Constellation Brands (STZ) to $154 from $142 and keeps an Underperform rating on the shares. A positive share price reaction to earnings, despite the introduction of “soft” FY27 guidance, likely reflects perceived conservatism in the beer segment outlook, the analyst tells investors. Following the report, the firm applies a higher multiple, reflecting at least improved near term beer trends, the analyst added.