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Fly News Breaks for September 15, 2016
STZ
Sep 15, 2016 | 09:15 EDT
Morgan Stanley analyst Dara Mohsenian said Constellation Brands remains the most undervalued beverage company. The analyst said valuation still does not reflect the outsized revenue growth and margin expansion in beer or the improving trends in the wine business. Mohsenian raised Constellation's price target to $191 from $184 to reflect higher long-term wine growth assumptions and said better wine trends have come from organic improvement and from recent high growth acquisitions. Shares are Overweight rated.
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