Clouds Have Passed for Constellation Brands (STZ) - RBC
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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
Shares of Constellation Brands closed at $218.87 yesterday.
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