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STZ

Constellation Brands

$219.24

8.42 (3.99%)

, STZ.B

Constellation Brands; also tag STZ

$222.71

5.25 (2.41%)

14:46
10/04/18
10/04
14:46
10/04/18
14:46

JPMorgan sees opportunity to buy Constellation Brands shares after earnings

JPMorgan analyst Andrea Teixeira said that Constellation Brands' (STZ) better than expected Q2 EPS was driven by stronger top-line growth, better operating profit growth and a favorable tax rate. The company's updated FY19 EPS view of $9.60-$9.75, when adjusted for 25c-30c dilution from its increased investment in Canopy Growth (CGC), compares to Teixeira's $9.26 estimate heading into the quarter and the consensus forecast of $9.30, she noted. The analyst, who sees an opportunity to buy Constellation shares following the report, keeps an Overweight rating on the stock, which is up nearly 5% to $220.65 in afternoon trading.

STZ

Constellation Brands

$219.24

8.42 (3.99%)

STZ.B

Constellation Brands; also tag STZ

$222.71

5.25 (2.41%)

CGC

Canopy Growth

$48.06

-1.18 (-2.40%)

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    Oct

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    Oct

STZ Constellation Brands
$219.24

8.42 (3.99%)

10/03/18
JEFF
10/03/18
NO CHANGE
Target $283
JEFF
Buy
Constellation Brands called top large cap growth idea at Jefferies
Jefferies analyst Kevin Grundy calls Constellation Brands a top large cap growth idea and keeps a Buy rating on the shares with a $283 price target. The analyst believes the setup for Constellation is favorable into its Q2 results on October 4 citing "strong" beer sales and an "attractive" valuation. While fiscal 2019 earnings guidance is likely to be revised lower on Canopy, this is largely expected and the second half of the year should improve on continued beer sales momentum and anticipated margin expansion, Grundy tells investors in a research note.
10/01/18
SUSQ
10/01/18
NO CHANGE
Target $165
SUSQ
Negative
Constellation Brands price target cut to $165 from $171 at Susquehanna
Susquehanna analyst Pablo Zuanic cut his price target on Constellation Brands to $165 from $171, telling investors in a research note that he rates the stock a Negative on Mexican beer deceleration risk, misplaced market expectations about beer profit margin growth and significant reinvestment risk. Zuanic also says he believes the current FY19 PE of 24x is "excessive" for a company guiding for about 10% EPS growth.
09/28/18
OTRG
09/28/18
UPGRADE
OTRG
Positive
Constellation Brands upgraded to Positive from Mixed at OTR Global
09/25/18
09/25/18
NO CHANGE

Fly Intel: Today's top analyst calls on Wall Street
Check out today's top analyst calls from around Wall Street, compiled by The Fly: TENARIS DOUBLE UPGRADED TO BUY: BofA Merrill Lynch analyst Joao Vicor Lorenzi double upgraded Tenaris (TS) to Buy from Underperform and raised his price target on shares to $40 from $30. Lorenzi expects Tenaris to benefit from a sustained, broad based recovery in its end markets that should result in a muli-year period of strong earnings momentum. The analyst also said the recent pullback in shares has created a compelling buying opportunity. In late morning trading, Tenaris shares are higher by 5.3%. CITI UPGRADES BARRICK TO BUY: Citi analyst Alexander Hacking upgraded Barrick Gold (ABX) to Buy from Neutral and raised his price target for the shares to $14 from $11, saying the company's acquisition of Randgold (GOLD) is a win for Barrick on two levels. One, Barrick management gets an upgrade to the most successful CEO in the sector, which adds "significant credibility" to its turnaround. Two, the deal solidifies Barrick's capital allocation by removing the acquisition overhang and accelerating assets sales, the analyst added. RAYMOND JAMES CUTS INTEL TO UNDERPERFORM: Raymond James analyst Chris Caso downgraded Intel (INTC) to Underperform from Market Perform based on sector cyclical concerns following checks in Asia. Caso's checks indicate there has been a negative sentiment shift during the month of September among suppliers, with several trends clearly worsening. The analyst has concluded that the the semiconductor sector has entered a cyclical downturn and has made a broad call to downgrade nearly all of his stocks under coverage. For Intel, Caso said the company's CPU shortages are well-know, but recent checks suggest shortages on some new high margin SKUs, which will limit near-term upside. SIRIUS CUT TO NEUTRAL FOLLOWING PANDORA ACQUISITION: Credit Suisse analyst Brian Russo downgraded Sirius XM (SIRI) to Neutral and lowered his price target for the shares to $7.50 from $8.50. The company's acquisition of Pandora Media (P) "changes the story," Russo said. The analyst believes the opportunities and potential synergies between the two companies, as well as management's capital deployment intentions, are "unclear at this time." Further, Russo thinks shares of Sirius XM could be range-bound through the deal's expected close in Q1 of 2019. BENCHMARK STARTS CANOPY WITH A BUY: Benchmark analyst Mike Hickey initiated Canopy Growth (CGC) with a Buy rating and C$100 price target, citing Canopy's early leadership in the medical cannabis market and upcoming legalization of recreational cannabis in Canada and the meaningful investment from Constellation Brands (STZ). That investment accelerates the ongoing build-out of its international production and distribution operations and domestic retail infrastructure to meet rapidly growing global demand, Hickey said.
STZ.B Constellation Brands; also tag STZ
$222.71

5.25 (2.41%)

09/25/18
BNCH
09/25/18
INITIATION
BNCH
Buy
Canopy Growth initiated with a Buy at Benchmark
Benchmark analyst Mike Hickey initiated Canopy Growth (CGC) with a Buy rating and C$100 price target, citing Canopy's early leadership in the medical cannabis market and upcoming legalization of recreational cannabis in Canada and the meaningful investment from Constellation Brands (STZ). That investment accelerates the ongoing build-out of its international production and distribution operations and domestic retail infrastructure to meet rapidly growing global demand, Hickey tells investors.
09/20/18
STFL
09/20/18
NO CHANGE
STFL
Top 22 Canadian cannabis stocks up 127% since Constellation pact, says Stifel
Yesterday's significant outperformance for Canadian cannabis stocks, led by Tilray (TLRY), at one point pushed the total market capitalization for Canadian Licensed Producers above $C80B, before they closed with a combined market cap of C$73B, calculates Stifel analyst Christopher Growe. Since August 15, when Constellation Brands (STZ) announced a pact to invest C$5B into Canopy Growth (CGC), the top 22 Canadian cannabis stocks are up 127% in stock price, noted Growe. A $C73B market cap in relation to what he estimates to be an addressable Canadian market of C$10B is "difficult to fathom," so valuations require global opportunities to be realized, added Growe, who said he questions the pace of development and degree of advantage for these companies. Companies in the cannabis space that can be traded in the U.S. include Aurora Cannabis (ACBFF), CV Sciences (CVSI), Canopy Growth, Cronos Group (CRON) and Tilray.
09/19/18
09/19/18
NO CHANGE

Canopy Growth price target raised to C$95 from C$51 at Garnier
Bryan, Garnier & Co analyst Nikolaas Faes raised his fair value estimate for Canopy Growth (CGC)shares to C$95 from C$51 as he believes the company can use the capital injection it has received via its deal with Constellation Brands (STZ) to build its own bottling and canning line for cannabis based beverages, further fund medical research programs and facilities and expand in the 30 countries pursuing a federally permissible cannabis program. The analyst, who sees Canopy being in "pole position" in the race for global domination of the $250B cannabis market, keeps a Buy rating on the stock.
09/04/18
COWN
09/04/18
NO CHANGE
COWN
Outperform
Canopy Growth price target raised to C$74 from C$56 at Cowen
Cowen analyst Vivien Azer met with Canopy Growth (CGC) management and came away convinced on the company's ability to establish an early lead in the adult use cannabis market, as well as domestic and international medical cannabis markets. The company has signed a dominant share of supply agreements and has the capacity to meet both initial and medium-term demand. Canopy Growth's cash infusion from Constellation Brands (STZ) should provide an opportunity to gain an early share lead in international markets, added Azer, who reiterated her Outperform rating on Canopy Growth shares and raised her price target on the stock to C$74.
CGC Canopy Growth
$48.06

-1.18 (-2.40%)

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HPQ

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HP Inc.

$18.91

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NKE

Nike

$83.27

0.46 (0.56%)

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SYY

Sysco

$73.32

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, CBLK

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VMware raises FY20 EPS view to $6.54 from $6.49, consensus $6.52 »

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VMW

VMware

$148.15

0.11 (0.07%)

, CBLK

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BRKS

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HAS

Hasbro

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