Molson Coors (TAP) EBITDA Margins Look Too Conservative - Jefferies

Jefferies analyst Kevin Grundy reiterated a Buy rating and $70.00 price target on Molson Coors (NYSE: TAP) on the belief that management has the ability to restore ~400-800 bps to margins and after the CEO noted, earlier this week, that TAP's results to date are running "nicely ahead" of its '21 plan.

The analyst stated "In the near term, Street FY23 EBITDA margin ests. appear to be far too conservative (below pre-pandemic levels) with our EPS ests. 13% ahead of consensus. In the intermediate-term, there is tremendous value to be unlocked for shareholders with recent improvement in results offering tangible signs the co.'s Revitalization Program is taking hold."

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 $56.14 yesterday.

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