Deutsche Bank Adds Molson Coors (TAP) to the Short Term Sell List
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Deutsche Bank analyst Steve Powers added Molson Coors (NYSE: TAP) to the short term Sell Catalyst List due to concerns around upcoming 1Q results. The analyst is modeling $0.19 for 1Q EPS, considerably below the consensus of $0.27. The price target remains $44.00.
The analyst stated "we believe 1Q results are likely to come under material pressure from adverse February weather in Texas and a more recent cybersecurity breach in March, each of which likely caused downtime/disruption in the company's operations/production/shipments for several days/weeks (including plant recovery/ramp-up time), and may have incurred elevated cash costs as well (even if some are deemed one-time in nature on the P&L)".
Shares of Molson Coors closed at $49.15 yesterday.
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