Evercore ISI analyst Robert Ottenstein noted that Molson Coors provided an "all-in" cost savings target of $550M, which includes $275M of deal-related synergies in 3-years versus the company's initial $200M, 4-year target. The synergies view is "broadly in-line" with the $300M the firm has modeled, which increases his confidence in his expectations for transaction-adjusted EPS and free cash flow estimates for 2018-2020, said Ottenstein, who keeps a Buy rating on Molson Coors shares.
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