Constellation Brands (STZ) PT Raised to $316 at Jefferies

Jefferies analyst Kevin Grundy raised the price target on Constellation Brands (NYSE: STZ) to $316.00 (from $305.00) on positive Nielsen data that is a catalyst for raising his estimates.

The analyst reiterated a Buy rating, stating "Stock has bounced recently on staples rotation, (+) Nielsen data, and easing supply chain pressure. H/w, w/overhang from wine sale lifted, mkt share momentum evident, and stock attractively valued at 16.5x EV/EBITDA (ex-WEED) vs. 25x/28x for growth comps, STZ remains our favored large cap growth stock. Buy, PT to $316."

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