Despite Enticing Valuation, Goldman Remains Neutral on Molson Coors (TAP)

August 8, 2012 8:41 AM EDT Send to a Friend
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Price: $58.34 +1.87%

Rating Summary:
    3 Buy, 9 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 34 | Down: 12 | New: 35
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Goldman Sachs reiterated a Neutral rating on Molson Coors (NYSE: TAP) but raised the price target to $47.00 (from $46.00).

"We remain Neutral on TAP as valuation is admittedly enticing, but TAP is still losing market share in both US and Canada, and Starbev acquisition adds increased P&L volatility," said Jody E. Hong, an analyst at the bank.

"We wait for signs of improving market share performance in US/Canada and greater visibility on Central European profitability to become more bullish."

She raised 2012 estimates by 8.6% to $4.08 to reflect the 2Q12 beat.

For an analyst ratings summary and ratings history on Molson Coors click here. For more ratings news on Molson Coors click here.

Shares of Molson Coors closed at $42.92 yesterday.




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