Barclays Maintains an 'Equalweight' on Constellation Brands (STZ); In-Line Fundamentals, Below-the-Line Drives Beat & Raise

Barclays maintains an 'Equalweight' on Constellation Brands (NYSE: STZ) price target of $21.00.

Barclays analyst says, "Constellation Brands beat 2QF12 Consensus EPS by $0.11 and raised the bottom and top end of their comparable full year fiscal 2012 EPS guidance range by a dime to $2.00 to $2.10, from $1.90-$2.00. The EPS beat and guidance raise was driven by a much lower (3% vs. 10% expected) tax rate and the inclusion of share repurchases. As such, the company essentially reiterated underlying earnings guidance for the year...We are flowing through today's EPS beat and lifting our FY2012 EPS forecast to $2.02 from $1.92." (Barclays raises FY13 from $2.10 to $2.20)

For more ratings news on Constellation Brands click here and for the rating history of Constellation Brands click here.

Shares of Constellation Brands closed at $20.40 yesterday.

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