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STZ

Constellation Brands

$150.91

-21.38 (-12.41%)

, CGC

Canopy Growth

$33.64

4.01 (13.53%)

08:50
01/10/19
01/10
08:50
01/10/19
08:50

Constellation risk/reward remains favorable after selloff, says Jefferies

Jefferies analyst Kevin Grundy lowered his estimates for Constellation Brands following yesterday's fiscal 2019 guidance reduction but he believes the stock's risk/reward remains favorable. The analyst lowered his price target for the shares to $258 from $269 and keeps a Buy rating on Constellation. The company's beer business remains healthy and its investment in Canopy Growth (CGC) is now a free call option, Grundy tells investors in a research note.

STZ

Constellation Brands

$150.91

-21.38 (-12.41%)

CGC

Canopy Growth

$33.64

4.01 (13.53%)

  • 18

    Feb

STZ Constellation Brands
$150.91

-21.38 (-12.41%)

01/10/19
JPMS
01/10/19
NO CHANGE
Target $193
JPMS
Overweight
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.
01/10/19
COWN
01/10/19
NO CHANGE
Target $220
COWN
Outperform
Constellation Brands price target lowered to $220, remains top pick at Cowen
Cowen analyst Vivien Azer lowered her price target on Constellation Brands to $220 from $260 following Q3 results. The analyst cited its guidance and wine challenges. However, she remains positive on the company given its best-in-class beer portfolio, meaningful exposure to cannabis, and a strong shareholder return outlook for the next three years. Azer reiterated her Outperform rating on Constellation Brands shares.
01/10/19
RHCO
01/10/19
NO CHANGE
Target $165
RHCO
Hold
Constellation Brands price target lowered to $165 from $180 at SunTrust
SunTrust analyst William Chappell lowered his price target on Constellation Brands (STZ) to $165 and kept his Hold rating on the stock. The analyst cites the company's reported expectations of declining wine and spirits sales, adding that the latest $4B investment in Canopy Growth (CGC) will be the "cloud" hanging over the stock for the next few quarters because of the uncertainty related to its potential growth.
01/10/19
WELS
01/10/19
NO CHANGE
Target $235
WELS
Market Perform
Constellation Brands price target lowered to $235 from $260 at Wells Fargo
Wells Fargo analyst Bonnie Herzog lowered her price target for Constellation Brands (STZ) to $235 from $260 following "disappointing' Q3 results and FY19 guide down. The continues to view the stock as best-in-class with huge potential upside from its cannabis investment and therefore believes the sharp selloff in the shares is "way overdone!" However, Constellation Brands' miss on beer depletions, guide down on FY19 beer OI margin, pressure on its wine biz and lack of visibility on the impact of its Canopy Growth (CGC) investment on earnings will likely "keep the bears growling near-term." Herzog reiterates an Outperform rating on Constellation Brands' shares.
CGC Canopy Growth
$33.64

4.01 (13.53%)

01/09/19
PIPR
01/09/19
INITIATION
PIPR
Overweight
Piper Jaffray rolls out bullish research coverage on Canopy Growth, Tilray
Piper Jaffray analyst Michael Lavery initiated coverage of Canopy Growth (CGC) and Tilray (TLRY) with Overweight ratings and price targets of $40 and $90, respectively. The analyst believes the global Cannabis market has the potential to reach $250B-$500B over the long term and $15B-$50B in the near term. The industry's long-term growth opportunities are significant, both from transitioning illicit trade to legal sales and from transitioning sales in health and wellness categories to cannabidiol-infused products, Lavery tells investors in a research note. The analyst expects recreational use to source from illicit trade and alcohol, medical use to source from other medical treatments, and non-psychoactive CBD-infused cannabis products to source users from food, beverage, and personal care categories. Over 25 countries have legal marijuana use today, he points out. Lavery believes federal legalization in the U.S. could potentially come in the next five years. Further, the analyst expects capital flow into the sector will likely continue.
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.

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QURE

uniQure

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CNCE

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PSTI

Pluristem

$1.12

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TLRY

Tilray

$77.14

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BG

Bunge

$52.95

0.745 (1.43%)

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Conagra Brands

$21.58

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Bunge

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CAG

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CGEN

Compugen

$3.18

0.07 (2.25%)

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KSU

Kansas City Southern

$110.57

6.4 (6.14%)

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TRV

Travelers

$123.97

1.03 (0.84%)

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TRV

Travelers

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CONN

Conn's

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AMRX

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AINV

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SDLP

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