Molson Coors price target lowered to $54 from $58 at Needham

Needham lowered the firm’s price target on Molson Coors (TAP) to $54 from $58 and keeps a Buy rating on the shares ahead of its Q3 results. The company has not shown any signs of volume improvement in U.S. consumer takeaway, and after factoring in the shipment timing benefit and contract brewing headwinds, the firm is now modeling for an 8% volume decline in Americas, the analyst tells investors in a research note.