UBS Remains Sidelined on Constellation Brands (STZ) Following 2Q - PT to $182
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UBS reiterated a Neutral rating on Constellation Brands (NYSE: STZ), and raised the price target to $182.00 (from $173.00), following the company's 2Q earnings report.
Analyst Stephen Powers commented, "Constellation reported Q2 EPS of $1.77 (vs. UBSe/cons. of $1.68/$1.65) alongside all-in sales growth of +16.6% (vs. UBSe/cons. of +15.5%/12.9%) and organic growth of +12.4% (vs. UBSe of +9.8%). Beer margins (up +196 bps) drove the bottom-line beat, while the Wine and Spirits segment drove top-line strength (org. growth up +8.2% vs. UBSe of +3.0%). STZ raised FY17 guidance to $6.30-$6.45 (from $6.05-$6.35 prior, on strength in the beer business in Q2) and raised FY FCF guidance to $375M-$475M (from $250M-$350M prior) on a shift in capex timing related to the Nava Brewery."
Shares of Constellation Brands closed at $168.60 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
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