SunTrust analyst William Chappell raised his price target on Constellation Brands to $250 from $230 and kept his Buy rating, saying the overall Beer business is healthy from both a top-line and margin improvement perspective. Chappell adds that Constellation Brands can achieve 45% beer margins over the next few years - relative to 39% expected for FY18 - as the company "benefits from its major capex investments, pricing, and new distribution." The analyst says the latest conference call takeaways include expectations of a recovery in shipment volumes in Q4 following a 9.1% depletion in Q3 attributed to the timing of shipments.