Deutsche Bank Adds Molson Coors (TAP) to the Short Term Sell List

March 19, 2021 6:20 AM EDT
Get Alerts TAP Hot Sheet
Price: $50.62 +1.24%

Rating Summary:
    8 Buy, 15 Hold, 6 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 19 | Down: 18 | New: 47
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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)".

For an analyst ratings summary and ratings history on Molson Coors click here. For more ratings news on Molson Coors click here.

Shares of Molson Coors closed at $49.15 yesterday.

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