Wells Fargo downgraded Molson Coors (TAP) to Equal Weight from Overweight with a price target of $50, down from $53. The firm believes AB InBev (BUD) offers “superior prospects” for growth relative to Molson into 2026. Molson faces category softness, which is exacerbated by share losses and “tight” costs, the analyst tells investors in a research note. Wells believes the company’s fundamentals “overwhelm” its cash generation.
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