UBS Remains Sidelined on Constellation Brands (STZ) Following 2Q - PT to $182

October 6, 2016 7:42 AM EDT
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Price: $165.63 -0.53%

Rating Summary:
    15 Buy, 9 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 25 | Down: 28 | New: 8
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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."

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 $168.60 yesterday.

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