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Fly News Breaks for April 5, 2019
STZ
Apr 5, 2019 | 09:22 EDT
BMO Capital analyst Amit Sharma kept his Outperform rating and $225 price target on Constellation Brands after the company announced a divestment of lower priced wine and spirits brands, saying the move "re-shapes" its portfolio and positions it on a "clear path" to double-digit core earnings growth. The analyst adds that Constellation Brands's FY20 outlook is likely conservative and believes it can generate "continued multiple recovery" from current levels, with added benefits coming from its "free call option" on Canopy.
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