Constellation Brands upgraded to Buy from Hold at TD Cowen

TD Cowen upgraded Constellation Brands (STZ) to Buy from Hold with a price target of $190, up from $142. The firm views the company’s fiscal 2027 beer guidance as “overly conservative” and sees upside from easing compares, World Cup benefits, and subsiding pressure on Hispanic consumers. Constellation’s valuation multiple will move higher as the market regains confidence that the company can return to volume growth despite broader beer category declines, the analyst tells investors in a research note.