UBS Lowers PT and Estimates on Molson Coors (TAP); Other Factors Making Sales Look Sweeter Than Reality

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UBS maintains a 'Neutral' on Molson Coors (NYSE: TAP) price target of $41.00 (from $45.00).

Analyst, Kaumil S. Gajrawala, said, "We positive on US beer, but we expect Molson Coors to lose share to ABI given TAP’s current IT implementation amidst a strong innovation pipeline (and increased marketing support) from its main US competitor. That said, US beer trends should be supported by: 1) strong May trends boosted by favorable weather over Memorial Day, 2) easy upcoming summer comparisons, 3) an improving COGS outlook, and 4) abating gas prices heading into summer."

UBS lowers FY12 EPS estimate from $3.69 to $3.61 and FY13 from $4.02 to $3.84.

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 $39.63 yesterday, with a 52 week range of $37.96-$46.71.

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