Constellation Brands (STZ) PT Lowered to $234 at Deutsche Bank
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Deutsche Bank lowered its price target on Constellation Brands (NYSE: STZ) to $234.00 (from $258.00) while maintaining a Buy rating.
Analyst Steve Powers said they came away from the Q1 results seeing less margin for error than previously anticipated and somewhat more concerned about the cost of growth going forward.
Powers is concerned in the near-term that sell-side estimates to date have not adequately reflected likely 2Q investment spending.
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