Constellation Brands price target raised to $160 from $155 at Wells Fargo

Wells Fargo raised the firm’s price target on Constellation Brands (STZ) to $160 from $155 and keeps an Overweight rating on the shares. The firm expects few fireworks with Q3 Thursday, with in-line depletions, margin visibility, and reiterated full year guidance. Ultimately, the “firework moment” will be whether depletion trends sequentially improve into Q4 as comparable “ease… or not,” Wells adds.