TD Cowen analyst Seamus Cassidy lowered the price target on Constellation Brands (NYSE: STZ) to $150.00 (from $174.00) while maintaining a Buy rating.

The analyst comments "Investor sentiment on STZ remains overwhelmingly negative as weak scanner trends, BPI readings, and mgmt commentary all point to a still-soft demand backdrop. However, with expectations already depressed and STZ continuing to gain share, we believe the narrative can improve with a modest reacceleration in depletions, stabilization in Hispanic trends, and moderating beer category headwinds."