UPDATE - UBS Downgraded Molson Coors (TAP) to Neutral; More Cautious Stance from Ongoing Decline in Volume
TAP Hot Sheet
Rating Summary:0 Buy, 6 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23
UPDATE - UBS downgraded Molson Coors (NYSE: TAP) from Buy to Neutral. PT cut $1 to $45.
UBS analyst said, "We are downgrading shares of TAP as we see limited upside to earnings from a difficult volume environment (slowing growth in Coors Light and ongoing Miller Lite declines), while further IT spending and limited future JV synergies will limit financial upside from SG&A leverage. We are lowering our ‘12-13 EPS to $3.60 & $3.81 (prev: $3.69 & $3.96)."
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UBS analyst said, "We are downgrading shares of TAP as we see limited upside to earnings from a difficult volume environment (slowing growth in Coors Light and ongoing Miller Lite declines), while further IT spending and limited future JV synergies will limit financial upside from SG&A leverage. We are lowering our ‘12-13 EPS to $3.60 & $3.81 (prev: $3.69 & $3.96)."
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