RBC Capital Reiterates Outperform Rating on Constellation Brands (STZ)

July 1, 2021 6:29 AM EDT
Get Alerts STZ Hot Sheet
Price: $226.36 +0.68%

Rating Summary:
    23 Buy, 11 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 27 | New: 42
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RBC Capital analyst Nik Modi reiterated an Outperform rating and $300.00 price target on Constellation Brands (NYSE: STZ). Beer shipments were weak due to one-off supply chain constraints, but consumer demand remains robust.

Reiterated FY'22 beer net sales guidance should provide comfort that management has visibility into the issues at hand and intends to replenish distributor inventory before year-end. Management has guided to $1B in share repurchases in FY'22 and reiterated their commitment to $2.5B of buy backs through FY'23.

For an analyst ratings summary and ratings history on Constellation Brands click here. For more ratings news on Constellation Brands click here.

Shares of Constellation Brands closed at $233.89 yesterday.

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