Credit Suisse Starts Constellation Brands (STZ) at Neutral
- Health, tech stocks extend Wall Street record-setting rally
- Trump's Cohn Pick Most Bullish Sign Yet for Banks - Cowen
- Unusual 11 Mid-Day Movers: (IDXG) (INVN) (EBS) Higher; (SCON) (DTEA) (DLTH) Lower (more...)
- 21st Century Fox (FOXA) offers to acquire Sky for GBP10.75/share
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
Credit Suisse initiates coverage on Constellation Brands (NYSE: STZ) with a Neutral rating and a price target of $178.00.
Analyst Laurent Grandet commented, "We are initiating coverage of Constellation Brands with a Neutral rating and $178 target price. We think the company is in a good position to continue riding the consumer trend favoring craft and import beers, especially Mexican imports, but we fear the days of easy growth are nearing an inflection. In our view, Constellation is a well-run company with great fundamentals and outsized growth potential, but given our earnings expectations, we struggle to make the risk-reward work. Our EPS estimates are 2-3% below the consensus through FY18 because we think there is a relatively higher degree of risk to the earnings power and that pricing will be limited to maintain top-line volume growth."
Shares of Constellation Brands closed at $166.47 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- BMO Capital Cuts Price Target on Cooper Cos. (COO) Following 4Q Results
- Argus Downgrades Sonoco Products (SON) to Hold
- MKM Partners Raises Price Target on Ciena (CIEN) to $30 Following 4Q
Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Related EntitiesCredit Suisse, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!