Clouds Have Passed for Constellation Brands (STZ) - RBC

July 2, 2018 9:27 AM EDT
Get Alerts STZ Hot Sheet
Price: $221.34 -0.65%

Rating Summary:
    23 Buy, 11 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 7 | Down: 15 | New: 3
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RBC Capital Nik Modi analyst said following Constellation Brands' (NYSE: STZ) miss, the "clouds have passed" and now they can "see the stars."

Modi said the miss was very much in line with the company's prior commentary. He said the top line remains healthy and the company reiterated guidance.

The analyst said they were pleased that despite cost pressure management elevated investment spending in the quarter.

He said Friday's sell-off was not unexpected, and now they recommend buying on weakness.

Outperform price target of $280.00

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 $218.87 yesterday.

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