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Fly News Breaks for July 3, 2018
STZ.B, STZ
Jul 3, 2018 | 07:02 EDT
Deutsche Bank analyst Steve Powers lowered his price target for Constellation Brands to $234 saying he come away from the company's Q1 results and implied Q2 guidance "seeing less margin for error than previously anticipated" and "somewhat more concerned about the cost of growth going forward." The analyst believes sell-side estimates have not adequately reflected Constellation's likely investment spending. Powers, however, keeps a Buy rating on the shares.
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