Constellation Brands (STZ) PT Raised at Piper Sandler Despite Consumer Headwinds

Piper Sandler analyst Michael Lavery raised the price target on Constellation Brands (NYSE: STZ) to $170.00 (from $165.00) while maintaining a Neutral rating.

The analyst commented: "Consumer Headwinds Persist; STZ's core Hispanic consumer remains stretched and is continuing to shift channels and pack sizes, seeking value, while broader consumer sentiment remains a headwind, too. We update our estimates to reflect STZ's recent $900M debt tender and for a bit faster realization of cost savings in Wine & Spirits following its mainstream brand divestiture (closed June 2). We maintain our F26E EPS of $12.60 but raise our F27E EPS from $13.55 to $13.85 and raise our target from $165 to $170 (unchanged ~12x C26E EPS)."

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