UBS Maintains a 'Buy' on Constellation Brands (STZ); Cutting Price Target and Estimates
Tweet
Share
E-mailGet Alerts STZ Hot Sheet
Price: $139.18 +2.08%
Rating Summary:
22 Buy, 15 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
22 Buy, 15 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
UBS maintains a 'Buy' on Constellation Brands (NYSE: STZ) price target lowered from $28 to $26.
Analyst, Kaumil S. Gajrawala, said, "Despite solid sales trends lately, STZ provided initial comparable FY13 EPS guidance of $1.93-2.03 (-15% y/y; Street $2.20). Weaker profitability is expected to be driven by higher marketing spending behind focus brands and new innovation, as well as higher interest expense and taxes next year. The company also announced a new $1bn share repurchase authorization, and guided to $550-600m in buybacks for FY13. Our FY13e EPS goes to $2.03 (from $2.28)."(UBS cuts FY14 from $2.43 to $2.27)
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 $21.61 yesterday.
Analyst, Kaumil S. Gajrawala, said, "Despite solid sales trends lately, STZ provided initial comparable FY13 EPS guidance of $1.93-2.03 (-15% y/y; Street $2.20). Weaker profitability is expected to be driven by higher marketing spending behind focus brands and new innovation, as well as higher interest expense and taxes next year. The company also announced a new $1bn share repurchase authorization, and guided to $550-600m in buybacks for FY13. Our FY13e EPS goes to $2.03 (from $2.28)."(UBS cuts FY14 from $2.43 to $2.27)
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 $21.61 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Fiserv (FISV) PT Lowered to $60 at Freedom Broker
- Freedom Broker Upgrades Lifeway Foods (LWAY) to Buy
- Zedcor Inc (ZDC:CN) PT Raised to Cdn$7.75 at Desjardins
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
UBS, Stock BuybackSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
