Molson Coors downgraded to Underweight from Equal Weight at Barclays

Barclays downgraded Molson Coors (TAP) to Underweight from Equal Weight with a price target of $50, up from $49. The firm believes beer category trends and investor sentiment “are likely to be weighed down for some time.” In this environment, Molson has a structurally disadvantaged portfolio, the analyst tells investors in a research note. Barclays prefers Constellation Brands (STZ), a stock it downgraded to Equal Weight today, relative to Molson. The firm is challenged to find a near-term catalyst for beer trends.