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Fly News Breaks for April 20, 2017
TAP
Apr 20, 2017 | 06:42 EDT
Cowen analyst Vivien Azer downgraded Molson Coors to Market Perform and lowered her volume outlook to reflect expectations for persistent beer volume headwinds. The analyst believes alcohol consumption could be pressured for at least the next decade, partly due to increased cannabis use, and a contraction in the alcohol cycle. Azer said Molson is uniquely exposed to the increasingly vibrant and growing cannabis markets and notes there is an inverse relationship between cannabis use and alcohol consumption over time.
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