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STZ

Constellation Brands

$188.62

-2.13 (-1.12%)

, STZ.B

Constellation Brands; also tag STZ

$191.34

(0.00%)

09:12
12/10/18
12/10
09:12
12/10/18
09:12

Constellation Brands a 'shooting star flying under the radar,' says Cowen

Cowen analyst Vivien Azer told investors in a research note that Constellation Brands (STZ) remains her overall Top Pick across all of the companies under her coverage going into 2019, contending that best in class revenue growth within U.S. beer, coupled with strong profitability has afforded Constellation the opportunity to leverage this strong operating performance and position it to win over the long term with its notable $4B investment in market leading Canopy Growth (CGC). Azer maintains an Outperform rating and $260 price target on Constellation shares.

STZ

Constellation Brands

$188.62

-2.13 (-1.12%)

STZ.B

Constellation Brands; also tag STZ

$191.34

(0.00%)

CGC

Canopy Growth

$31.39

1.1 (3.63%)

STZ Constellation Brands
$188.62

-2.13 (-1.12%)

12/10/18
JEFF
12/10/18
NO CHANGE
Target $289
JEFF
Buy
Constellation still top large cap growth idea after Canopy meeting at Jefferies
Jefferies analyst Kevin Grundy says Constellation Brands (STZ) remains his top large cap growth idea following his meeting with cannabis Canopy Growth (CGC), which is 40% owned by Constellation. The analyst came away impressed by Canopy's leadership, encouraged by its ability to capitalize on the "massive" global cannabis opportunity, and reassured by its confidence to deliver the "scrutinized" C$1B in revenue in 2020. He views Constellation's risk/reward as favorable and keeps a Buy rating on the shares with a $289 price target.
11/29/18
MACQ
11/29/18
DOWNGRADE
MACQ
Neutral
Constellation Brands downgraded to Neutral from Outperform at Macquarie
11/29/18
11/29/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. American Express (AXP) downgraded to Neutral from Buy at Buckingham with analyst Chris Brendler saying American Express is not expensive based on relative historical norms, but shares have outperformed other payment stocks year-to-date. 2. Intel (INTC) downgraded to Hold from Buy at DZ Bank. 3. Dick's Sporting (DKS) downgraded to Neutral from Overweight at JPMorgan with analyst Christopher Horvers saying he believes the risk/reward is "turning more balanced" following yesterday's Q3 results. 4. Volaris (VLRS) downgraded to Underperform from In-Line at Imperial Capital with analyst Michael Derchin saying the company is unlikely to be profitable in fiscal 2019 if the U.S. dollar/peso exchange rate remains at or above 20. 5. Constellation Brands (STZ) downgraded to Neutral from Outperform at Macquarie. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
12/07/18
ADAM
12/07/18
NO CHANGE
ADAM
Hold
Cronos investment should drive sector valuations higher, says Canaccord
Canaccord analyst Matt Bottomley said Altria Group's (MO) agreement to make a C$2.4B strategic investment in Cronos Group (CRON) for a 45% stake equates to "a lofty 36.2 times" multiple of his 2020 EV/EBITDA valuation for the cannabis company. When taken in the context of Constellation Brands' (STZ) C$5B investment in Canopy Growth (CGC) back in August, Bottomley believes an investment of this magnitude "provides overall legitimacy to the industry as a whole" and should be a positive catalyst for the sector and drive valuations higher. He maintains a Hold rating and C$9.00 price target on Cronos shares.
STZ.B Constellation Brands; also tag STZ
$191.34

(0.00%)

10/16/18
MSCO
10/16/18
NO CHANGE
Target $259
MSCO
Overweight
Morgan Stanley raises Constellation Brands target to $259 on better beer margins
Morgan Stanley analyst Dara Mohsenian, in a new note to investors, repeated his previously expressed beliefs that the market is not appropriately recognizing Constellation Brands' strong long-term growth prospects in beer and that negative sentiment around the company's investment in Canopy Growth (CGC) has been "overblown." The analyst, who sees scope for material improvement in beer operating margin performance starting in the second half of 2019, reiterates his Overweight rating on Constellation and raised his price target on the shares to $259 from $255.
10/05/18
GUGG
10/05/18
NO CHANGE
Target $180
GUGG
Sell
Constellation Brands strong results to reverse in Q3, says Guggenheim
Guggenheim analyst Laurent Grandet said Constellation Brands' (STZ) Q2 results were typically strong but driven by one-time benefits that will reverse in Q3, and low-quality operational items. Grandet believes beer growth is decelerating with Corona Premier and Familiar cannibalizing the core range and fails to see the next big growth driver. The analyst also said Constellation's investment in Canopy (CGC) makes shares riskier to own. Grandet rates Constellation Brands a Sell with a $180 price target, up from $177.
10/05/18
PIVT
10/05/18
NO CHANGE
Target $300
PIVT
Buy
Constellation Brands price target raised to $300 from $265 at Pivotal Research
Pivotal Research analyst Timothy Ramsey said Constellation Brands reported a "beautiful quarter" and that its core business is "growing faster than anyone believed." In terms of its investment in Canopy Growth (CGC), Ramsey said that is "very likely a masterstroke." He raised his estimates for Constellation on the heels of the report, increased his price target to $300 and keeps a Buy rating on the shares.
10/18/18
JEFF
10/18/18
NO CHANGE
Target $289
JEFF
Buy
Constellation CEO change does not alter bullish view, says Jefferies
Jefferies analyst Kevin Grundy says the CEO change at Constellation Brands does not impact his bullish thesis. He keeps a Buy rating on the shares with a $289 price target. While likely a bit earlier than the market anticipated, Bill Newlands appeared to be the clear successor to Rob Sands when he was named President earlier this year, Grundy tells investors in a research note. The analyst says Constellation remains his top large cap growth idea.
CGC Canopy Growth
$31.39

1.1 (3.63%)

11/07/18
ADAM
11/07/18
NO CHANGE
ADAM
Midterms broadly positive for U.S. cannabis industry, says Canaccord
Canaccord analyst Bobby Burleson says that as expected, yesterday's midterms delivered several wins for the U.S. cannabis industry, including the passage of three state ballot measures on legalization, key gubernatorial victories by pro-cannabis candidates, and the retaking of the House by Democrats. The analyst views these results as broadly positive for the U.S. cannabis industry. Publicly traded companies in the space include Aurora Cannabis (ACB), CV Sciences (CVSI), CannTrust Holdings (CNTTF), Canopy Growth (CGC), Cronos Group (CRON), General Cannabis (CANN), India Globalization Capital (IGC) and Tilray (TLRY).
11/06/18
COWN
11/06/18
NO CHANGE
COWN
Demand for adult use cannabis 'seemingly strong' in Canada, says Cowen
Citing her analysis of e-commerce platforms for adult use cannabis in Canada, Cowen analyst Vivien Azer remains encouraged to see "seemingly strong demand" as well as some instances of improved supply. In a research note pre-market open, the analyst notes she aggregated 533 product offerings with 1,149 SKUs from the e-commerce platforms for Alberta, British Columbia, Ontario, New Brunswick, and Newfoundland and Labrador. Overall, SKU stockout rates across the provinces were flat versus last week at 57%, although remains above the 46% rate during the prior week, Azer adds. Her view of the data is a modest positive for Canopy Growth (CGC), which has the second highest number of SKUs and out of stock rates declined from 65% to 54% while adding 16 SKUs this week. The read-through on Tilray (TLRY) is less clear, Azer contends, as the only three provinces where the company did not get supply agreements were all in her five province survey universe. The analyst reiterated an Outperform rating on Canopy Growth and Tilray.

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FB

Facebook

$198.26

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TWTR

Twitter

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AXP

American Express

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LB

L Brands

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LYFT

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