Constellation Brands price target raised to $182 from $170 at JPMorgan

JPMorgan raised the firm’s price target on Constellation Brands (STZ) to $182 from $170 and keeps a Neutral rating on the shares following Q1 earnings. The firm believes the rally in shares post-earnings largely reflects short covering as results were “not much worse than feared,” the analyst tells investors. The firm still has questions on the achievability of guidance and notes that management is calling for a near-term inflection, which JPMorgan says “leaves no room for disappointment.”