BofA analyst Bryan Spillane downgraded Molson Coors (TAP) to Neutral from Buy with a price target of $50, down from $65. The U.S. beer industry continues to decline below historic trends, market share loss continues and the stock’s valuation reflects uncertainty, the analyst tells investors. The firm says it will be difficult for Molson Coors to achieve what the firm had previously expected with the industry slump continuing, noting that it lowered its 2025 beer industry forecast from down 1.0% to down 4.0%.
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