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Fly News Breaks for March 18, 2016
STZ
Mar 18, 2016 | 08:04 EDT
Noting that Constellation has underperformed consumer staples stocks by about four percentage points since the start of December, RBC says that the underperformance was driven more by "technical dynamics" than fundamentals. The firm thinks that the stock could deliver annual returns of 13%-15% over the next two to three years. RBC expects Constellation's wine business to improve, enabling the company's performance to beat expectations. RBC keeps a $165 price target and Outperform rating on the shares.
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