Fly News Breaks for January 8, 2018
STZ.B, STZ
Jan 8, 2018 | 07:29 EDT
Deutsche Bank analyst Steve Powers believes Friday's post-earnings selloff in shares of Constellation Brands creates a "compelling" setup for Q4. The analyst attributes nearly all of the Q3 shortfall to timing, and sees underlying business trends as intact. Powers believes the relative Q3 shortfall creates a compelling Q4 set-up premised on Beer business reacceleration. He raised his price target for the shares to $253 from $248 and reiterates a Buy rating on Constellation.
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