BofA Securities Downgrades Molson Coors (TAP) to Neutral

BofA Securities analyst Bryan Spillane downgraded Molson Coors (NYSE: TAP) from Buy to Neutral with a price target of $50.00 (from $65.00).

The analyst comments "When we upgraded TAP in December, we expected 2025 US Beer industry volume declines to moderate back in line with historical trends; and Molson Coors (TAP) market share would stabilize. Stable revenues in turn would support margins and enable the stock to more adequately discount cash flows and support a higher valuation over time. There’s just one problem; it didn’t happen. The US beer industry continues to decline below historic trends, market share loss continue and valuation reflects uncertainty. We downgrade from Buy to Neutral and lower our PO from $65 to $50 which is based on 8.3x our FY26 EPS estimate (prior 9.9x). This puts it more in line with US packaged food industry peers where the industry growth dynamics are similar."

For an analyst ratings summary and ratings history on Molson Coors click here. For more ratings news on Molson Coors click here.

Shares of Molson Coors closed at $47.24 yesterday.

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