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STZ

Constellation Brands

$150.91

-21.38 (-12.41%)

07:32
01/10/19
01/10
07:32
01/10/19
07:32

Constellation Brands selloff yesterday 'seems exaggerated', says JPMorgan

JPMorgan analyst Andrea Teixeira lowered her price target for Constellation Brands to $193 from $220 and keeps an Overweight rating on the shares following yesterday's Q3 earnings and upside fiscal 2019 guidance. The reduction in guidance more than offset the 5% beat in the quarter, and fueled the bear thesis that the beer business will decelerate faster than consensus already anticipates, Teixeira tells investors in a post-earnings research note. The analyst, however, thinks the stock's selloff yesterday "seems exaggerated." The lowered guidance came in mostly on the back of weaker outlook for the lower-end wine brands which are non-core, says the analyst. She believes patience will pay-off for medium to long-term investors.

  • 18

    Feb

STZ Constellation Brands
$150.91

-21.38 (-12.41%)

01/09/19
JEFF
01/09/19
NO CHANGE
Target $269
JEFF
Buy
Constellation Brands selloff overdone after guidance lowered, says Jefferies
Jefferies analyst Kevin Grundy said he expects Constellation Brands shares to trade lower today following the company's "lower-quality" Q3 earnings beat and FY19 guidance lowering, though he believes the pre-market reaction appears to be overdone and would be a buyer amid the early weakness. While Constellation Q3 "certainly was not clean," consumer demand in the beer business remains very healthy and the stock's valuation "has reached washed out levels," according to Grundy, who keeps a Buy rating and $269 price target on the shares.
01/09/19
GUGG
01/09/19
UPGRADE
GUGG
Neutral
Constellation Brands upgraded to Neutral from Sell at Guggenheim
Guggenheim analyst Laurent Grandet upgraded Constellation Brands to Neutral saying the stock's risk/reward is more balanced following today's post earnings selloff.
01/10/19
GSCO
01/10/19
UPGRADE
Target $211
GSCO
Buy
Constellation Brands upgraded to Buy from Neutral at Goldman Sachs
Goldman Sachs analyst Judy Hong upgraded Constellation Brands (STZ) to Buy while lowering her price target for the shares to $211 from $243. The stock closed yesterday down 12.5%, or $21.57, to $150.94 post the company's Q3 earnings report. Constellation is down over 30% in the past 12 months, mostly driven by multiple contraction, Hong tells investors in a research note. The analyst reduced her estimates to reflect a "softer outlook" but sees a "compelling" risk/reward at current share levels. Her model yields a $195 per share value for the core business excluding Canopy Growth (CGC) and a consolidated price target of $211, pointing to 40% upside. Beer sales growth should remain healthy and beer margins should improve in fiscal 2020 as cost headwinds are lapped, Hong contends. Further, she believes Constellation shares could outperform even if investors assign zero value to its investment in Canopy.
01/10/19
SBSH
01/10/19
NO CHANGE
Target $168
SBSH
Neutral
Constellation Brands price target lowered to $168 from $240 at Citi
Citi analyst Wendy Nicholson lowered her price target for Constellation Brands to $168 to reflect yesterday's updated 2019 guidance. The analyst keeps a Neutral rating on the shares.

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