UBS Maintains a 'Buy' on Molson Coors (TAP); Weak Topline, Lack of P&L Mangement
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Price: $42.94 +0.77%
Rating Summary:
8 Buy, 20 Hold, 6 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
8 Buy, 20 Hold, 6 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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UBS maintains a 'Buy' on Molson Coors (NYSE: TAP) price target lowered from $51 to $46.
UBS analyst says, "The US beer industry remains weak. We are lowering our numbers for TAP to reflect: 1) weaker volume growth in the US and UK, 2) ongoing input cost headwinds negatively impacting GM’s, and 3) elevated spending due to marketing and IT investments. Our new 2011 and 2012 EPS estimates go to $3.42 and $3.69, from $3.54 and $3.87, respectively."
"We are lowering our 2011 GM estimate for TAP to -270bp y/y (prev -130bp) and lowering our estimate for MillerCoors JV income to $452m and $522m, from $481m and $571m in 2011 a.nd 2012, respectively to reflect ongoing volume weakness and sustained input cost inflation."
For more ratings news on Molson Coors click here and for the rating history of Molson Coors click here.
Shares of Molson Coors closed at $38.87 yesterday.
UBS analyst says, "The US beer industry remains weak. We are lowering our numbers for TAP to reflect: 1) weaker volume growth in the US and UK, 2) ongoing input cost headwinds negatively impacting GM’s, and 3) elevated spending due to marketing and IT investments. Our new 2011 and 2012 EPS estimates go to $3.42 and $3.69, from $3.54 and $3.87, respectively."
"We are lowering our 2011 GM estimate for TAP to -270bp y/y (prev -130bp) and lowering our estimate for MillerCoors JV income to $452m and $522m, from $481m and $571m in 2011 a.nd 2012, respectively to reflect ongoing volume weakness and sustained input cost inflation."
For more ratings news on Molson Coors click here and for the rating history of Molson Coors click here.
Shares of Molson Coors closed at $38.87 yesterday.
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