Constellation Brands (STZ) tops expectations on strong beer business

Constellation Brands (STZ) PT Raised to $308 at RBC Capital

April 12, 2024 6:32 AM EDT

RBC Capital analyst Nik Modi raised the price target on Constellation Brands (NYSE: STZ) to $308.00 (from $295.00) while maintaining a Outperform rating.

The analyst comments "Another strong print from STZ which only reaffirms our long-term bullishness in the company's ability to drive consistent CPG... More

Constellation Brands (STZ) PT Raised to $314 at Jefferies

April 12, 2024 6:07 AM EDT

Jefferies analyst Kaumil Gajrawala raised the price target on Constellation Brands (NYSE: STZ) to $314.00 (from $292.00) while maintaining a Buy rating.

The analyst comments "Beer grinds higher and should continue to do so, with +LDD% shelf space gains setting up a (+) F25. Wine &... More

Constellation Brands (STZ) PT Raised to $315 at BMO Capital

April 12, 2024 5:40 AM EDT

BMO Capital analyst Andrew Strelzik raised the price target on Constellation Brands (NYSE: STZ) to $315.00 (from $290.00) while maintaining a Outperform rating.

The analyst comments "STZs FY4Q24 EPS (ex-Canopy) of $2.30 (including $0.08 one-time write-off headwind) exceeded consensus of $2.11 as stronger Beer sales and lower... More

Constellation Brands (STZ) PT Raised to $264 at Deutsche Bank

April 12, 2024 5:17 AM EDT

Deutsche Bank analyst Steve Powers raised the price target on Constellation Brands (NYSE: STZ) to $264.00 (from $262.00) while maintaining a Hold rating.

The analyst comments "Overall, while our FY25 EPS estimate drifts higher (mainly on lower interest/taxes) our FY26 estimate falls modestly driven by... More

Constellation Brands (STZ) PT Raised to $300 at Goldman Sachs

April 12, 2024 4:32 AM EDT

Goldman Sachs analyst Bonnie Herzog raised the price target on Constellation Brands (NYSE: STZ) to $300.00 (from $290.00) while maintaining a Conviction Buy rating.

The analyst comments "Our View - We reiterate our Buy rating on STZ (on CL) following a strong finish to FY24 as FQ4 results surprised to the upside on higher beer sales/profits leading to an EPS beat. We came away from the quarter encouraged that: (1) total beer depletions were stronger than expected, up 8.9% in FQ4 (vs us/cons at 6.5%/6.8%) driven primarily by strength in the off-premise channel (~89% of STZ's total depletion... More

Constellation Brands (STZ) PT Raised to $310 at Evercore ISI

April 12, 2024 4:29 AM EDT

Evercore ISI analyst Robert Ottenstein raised the price target on Constellation Brands (NYSE: STZ) to $310.00 (from $300.00) while maintaining a Outperform rating.

The analyst comments "Were encouraged by continued momentum across the beer portfolio, as well as STZs above-Street EPS guidance for... More

Constellation Brands (STZ) PT Raised to $270 at CFRA

April 11, 2024 11:09 AM EDT

CFRA analyst Garrett Nelson raised the price target on Constellation Brands (NYSE: STZ) to $270.00 (from $245.00) while maintaining a Hold rating.

The analyst comments "We increase our 12-month price target by $25 to $270, based on a FY 26 (Feb.) P/E of 18.0x, a... More

Unwinding Fed rate cuts, ECB decision, earnings season - what's moving markets

April 11, 2024 5:29 AM EDT

Investing.com -- The hot March inflation report has resulted in an unwinding of rate cut expectations for June, and traders will look at the producer prices report for more clarity. The European Central Bank holds its latest rate-setting meeting, while the earnings season kicks into top gear.

1. Fed rate cut expectations for June unwind

The hotter-than-expected March consumer inflation report has resulted in an unravelling of Federal Reserve rate cuts expectations, with a reduction in June now looking more and more unlikely.

The annualized... More