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Fly News Breaks for April 3, 2018
STZ.B, STZ
Apr 3, 2018 | 07:09 EDT
As previously reported, Stifel analyst Mark Swartzberg downgraded Constellation Brands to Hold from Buy, calling the change a valuation call. While he does not think forecasts are too high, he does think the market is pricing in substantial beats, which he sees as being hard to achieve, Swartzberg tells investors. After considering the valuation further, the analyst lowered his price target on Constellation Brands shares to $228 from $245.
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