Wells Fargo analyst Chris Carey raised the firm’s price target on Constellation Brands (STZ) to $185 from $180 and keeps an Overweight rating on the shares. The firm notes the company’s Q4 was encouraging, with depletions turning positive, helping underwrite the acceleration story into summer. Wells sees Constellation’s guidance as conservative and valuation low, one of the cleaner positive catalyst paths into summer in Staples.
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