Constellation Brands (STZ) Named Top Alcoholic Beverage Pick at Credit Suisse into Year End

Credit Suisse analyst Kaumil Gajrawala reiterated an Outperform rating and $275.00 price target on Constellation Brands (NYSE: STZ) based on healthy depletions, minimal seltzer exposure, and margin upside as well as improving supply and steady on premise performance.

The analyst stated "Depletions expected to run below shipments this quarter. Off premise slowed as consumers shifted channels and comped the depths of pantry loading/lockdowns. At the same time, seltzer’s slowdown and supply chain disruptions should be transitory. We model for depletions +7% (Street 8.5% per Visible Alpha) vs. shipments +12%."

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 $211.76 yesterday.

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