Molson Coors downgraded to Underperform from Neutral at BofA

BofA downgraded Molson Coors (TAP) to Underperform from Neutral with a price target of $42, down from $50. Following Q4 results and the company’s presentation at CAGNY last week, the firm lowers estimates, noting that the company’s FY26 outlook was weaker than expected and provided limited visibility into stabilizing volumes. The downgrade reflects rising downside risk to forward estimates should the U.S. beer category experience another year of mid-single-digit declines or Molson Coors’ consumption trend meaningfully underperforms the category, the analyst tells investors.