Constellation Brands (STZ) Raised to $70 at Goldman

October 4, 2013 2:47 PM EDT
Get Alerts STZ Hot Sheet
Price: $150.08 +0.33%

Rating Summary:
    15 Buy, 9 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
Trade STZ Now!
Join SI Premium – FREE
Goldman Sachs on Friday morning reiterated a Buy rating on Constellation Brands (NYSE: STZ) and raised its price target to $70.00 (from $65.00). Analyst Judy E. Hong thinks positive long-term outlook remains firmly intact.

"Uncertainty around tax rate and impact of consolidation now passed and long term outlook intact – We remain Buy rated on STZ; while 2Q underlying results were largely in-line with our forecasts excluding the lower tax rate, we exit the quarter incrementally more comforted as the effective tax guidance was lowered sooner than expected, the concern around noise from the beer consolidation is now passed, and our long term outlook remains firmly intact post the quarter," said Hong.

For an analyst ratings summary and ratings history on Constellation Brands click here. For more ratings news on Constellation Brands click here.

Shares of Constellation Brands closed at $60.15 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS View, Analyst PT Change

Related Entities

Goldman Sachs

Add Your Comment