TD Cowen Reiterates Buy Rating on Constellation Brands (STZ)

TD Cowen analyst Robert Moskow reiterated a Buy rating and $300.00 price target on Constellation Brands (NYSE: STZ).

The analyst commented, "Constellation Brands announced they are converting their 18.8% stake of common shares in Canadian cannabis operator, Canopy Growth, into non-voting and non participating exchangeable shares. We think this is a prudent approach as it eliminates the drag from Canopy on STZ's GAAP earnings (starting in fiscal 2Q) while enabling STZ to maintain their call option on Canopy's future prospects."

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 $258.68 yesterday.

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