Molson Coors price target lowered to $48 from $50 at TD Cowen

TD Cowen analyst Robert Moskow lowered the firm’s price target on Molson Coors (TAP) to $48 from $50 and keeps a Hold rating on the shares. The firm noted Molson Coors reported 2Q organic sales -2.6% vs. consensus -5.3% and $2.05 EPS versus FactSet estimates of $1.82, but management attributed the beat to shipping above depletion and cut sales guidance to -3% to -4% due to weaker beer category trends and share losses.