Argus analyst John Staszak downgraded Constellation Brands (STZ) to Hold from Buy following the company's quarterly results. In a research note to investors, Staszak says that despite a strong Q3, he thinks further upward revisions to guidance are "unlikely" in fiscal 2021 and he worries that beer sales could decelerate and divestitures in the wine and spirits division could continue to be a headwind. Additionally, he says the company's investment in Canopy Growth (CGC) reduced earnings in Q3 by 25c and should continue to pressure earnings amid a large number of competitors.