Barclays Maintains an 'Overweight' on Molson Coors (TAP); Losing Some Traction

Barclays maintains an 'Overweight' on Molson Coors (NYSE: TAP), lowers PT by $1 to $48.

Barclays analyst says, "Results in 1Q11 were uninspiring at best and there were not many positives to take away from the quarter. Given the slightly higher commodity cost inflation expectations, which pose an even greater risk to FY12 in our view, and lackluster top-line momentum in the U.S. and Canada, we believe our reduced estimates are appropriate."

"We are lowering our FY11 EPS estimates to reflect an incrementally more challenging commodity cost environment, sluggish early 2Q volume trends, and a declining contribution from productivity programs. Our FY11 EPS estimate is now $3.75 (prior $3.85) while our FY12 EPS estimate goes to $4.05 (old $4.15)."

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 $45.52 yesterday.

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