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STZ

Constellation Brands

$191.64

13.44 (7.54%)

, STZ.B

Constellation Brands; also tag STZ

$183.95

8.36 (4.76%)

18:43
04/04/19
04/04
18:43
04/04/19
18:43

Constellation Brands CEO: We're excited about the future

In an interview on CNBC's Mad Money, Constellation Brands CEO Bill Newlands said: The high end brand categories continue to be strong and we are the leader in that space... This is a cash generating business... We think the sky is the limit with the cannabis business and Canopy Growth is the leader... Canada alone has a $5B-$6B run rate... The trade-up sector in the wine business will continue to drive growth.

STZ

Constellation Brands

$191.64

13.44 (7.54%)

STZ.B

Constellation Brands; also tag STZ

$183.95

8.36 (4.76%)

CGC

Canopy Growth

$43.24

-0.07 (-0.16%)

  • 04

    Apr

  • 04

    Apr

STZ Constellation Brands
$191.64

13.44 (7.54%)

03/07/19
03/07/19
INITIATION

Fly Intel: Top analyst initiations
Catch up on today's top analyst initiations with this list compiled by The Fly: 1. Five Below (FIVE) initiated with an Outperform at Oppenheimer. 2. Teva (TEVA) reinstated with a Buy at UBS. 3. Chiasma (CHMA) initiated with an Overweight at Cantor Fitzgerald. 4. Monster Beverage (MNST) and Constellation Brands (STZ) were initiated with an Outperform at Credit Suisse, while Procter & Gamble (PG), Coca-Cola (KO), and Church & Dwight (CHD) were initiated with a Neutral, and PepsiCo (PEP), Colgate-Palmolive (CL), and Clorox (CLX) initiated with an Underperform at Credit Suisse. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
03/07/19
FBCO
03/07/19
INITIATION
FBCO
Credit Suisse starts Household Products & Beverages with Constellation top pick
Credit Suisse analyst Kaumil Gajrawala rolled out coverage last night on eight names in the Household Products & Beverages space. The analyst's ratings consist of three Outperforms, two Underperforms, and three Neutrals. His top pick is Constellation Brands (STZ), which he started with an Outperform rating and $230 price target. The company offers "predictable" high-single digit revenue growth with a valuation that is "well below slower growth peers," Gajrawala tells investors in a research note. His other Outperform ratings are on Monster Beverage (MNST) and Clorox (CLX). The analyst has a $78 price target on Monster, noting it is the fastest growing company in his coverage "with runway for continued growth." He has a $172 price target on Clorox saying the company's "unique" portfolio position justifies a premium valuation. Gajrawala's Neutral rated names are Church & Dwight (CHD), Procter & Gamble (PG) and Coca-Cola (KO). His two Underperforms are PepsiCo (PEP) and Colgate-Palmolive (CL). PepsiCo has a $100 price target as the analyst sees limited upside amid the company's "stepped-up" investment years. Colgate-Palmolive, Gajrawala's less favorite name, has a $55 price target. The company's out-year margins are at risk as it reinvests to address several years of slowing growth and sales declines, Gajrawala contends.
03/06/19
FBCO
03/06/19
INITIATION
Target $230
FBCO
Outperform
Constellation Brands initiated with an Outperform at Credit Suisse
Credit Suisse initiated Constellation Brands with an Outperform and $230 price target.
04/04/19
JEFF
04/04/19
NO CHANGE
Target $255
JEFF
Buy
Jefferies views Constellation sale of wine brands favorably
Earnings dilution from a sale of wine brands, along with Canopy Growth (CGC) investment dilution in fiscal 2020 has been an overhang for Constellation Brands (STZ) in recent months, Jefferies analyst Kevin Grundy tells investors in a research note. The analyst says that despite negative earnings implications, he views Constellation's sale of value wine brands to E. & J. Gallo for $1.7B favorably as the "consideration appears reasonable for a declining wine business." Further, and importantly, the sale shifts focus to the company's higher "growth/margin/return" portfolio of assets, namely beer, contends Grundy. Constellation remains the analyst's top pick with a Buy rating and $255 price target.
STZ.B Constellation Brands; also tag STZ
$183.95

8.36 (4.76%)

01/04/19
WELS
01/04/19
NO CHANGE
Target $260
WELS
Outperform
Constellation 'one of the most attractive stocks' in Staples, says Wells Fargo
Wells Fargo analyst Bonnie Herzog reiterated an Outperform rating and $260 price target on Constellation Brands (STZ), telling investors in a research note that she believes Constellation is one of the most attractive stocks in Staples, given scarcity of growth across the group and the pullback, which she says is "unjustified." While she expects Constellation to lower FY19 EPS guidance to reflect 25c-30c of interest expense from the increased stake in Canopy Growth (CGC), Herzog believes Q3 results may surprise to the upside based on strong performance in Nielsen scanner data through December and potential beer margin upside from lower marketing investments. She sees Q3 results as a potential positive catalyst and encourages long-term investors to accumulate positions in the stock.
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.
02/13/19
MSCO
02/13/19
NO CHANGE
Target $233
MSCO
Overweight
Constellation Brands trading at 'bargain price,' says Morgan Stanley
Morgan Stanley analyst Dara Mohsenian believes the market is "materially mispricing" Constellation Brands' medium-term revenue growth trajectory, noting that his 5-yr beer revenue growth forecast for the company of 7.3% is well above the roughly 4% market-implied growth expectation. Once the market moves past the near-term potential for below consensus initial FY20 EPS guidance, as Constellation usually tends to be conservative, as well as a potential dilutive low end wine sale, Mohsenian sees scope for a material multiple re-rating, he tells investors. Given his increased conviction in the achievability of his 8.25% 3-yr beer revenue CAGR, the analyst raised his price target on Constellation shares to $233 from $207 and keeps an Overweight rating on the stock, which he views as currently trading at a "bargain price."
02/21/19
GHSC
02/21/19
INITIATION
GHSC
Neutral
Canopy Growth initiated with a Neutral at Seaport Global
Seaport Global analyst Brett Hundley initiated Canopy Growth (CGC) with a Neutral rating, stating that he "very much like this company," but he believes the current valuation already discounts attractive forward fundamentals and potential cash value from the exercise of additional warrants from Constellation (STZ).
CGC Canopy Growth
$43.24

-0.07 (-0.16%)

03/08/19
JEFF
03/08/19
INITIATION
Target $61
JEFF
Underperform
Tilray falls after Jefferies starts with Underperform rating, $61 target
Shares of Tilray (TLRY) are moving lower after Jefferies analyst Owen Bennett initiated coverage of the shares with an Underperform rating and $61 price target. Underperform is Jefferies' equivalent of a sell rating. Shares of Tilray are down 4%, or $2.97, to $66.75 in premarket trading. Bennett's 10-year discounted cash flow-driven valuation suggests the stock is "too expensive for its outlook." As a company wanting to be a global leader, the names that Tilray needs to be compared to are Canopy Growth (CGC) and Aurora Cannabis (ACB), Bennett tells investors in a research note. However, Tilray's Canada medical share is not in the top four and recent consumer feedback is "not inspiring," adds the analyst. Further, he believes the company's approach to recreational "does not appear as well thought through" and that its "optionality" in the U.S. is "less impressive." As such, Bennett struggles to justify Tilray's current valuation.
03/14/19
COWN
03/14/19
NO CHANGE
COWN
Narrow U.S. cannabis bills have better prospects than broad ones, says Cowen
Cowen analyst Jaret Seiberg said it is hard for him to see a scenario in the 116th Congress in which Senate Majority Leader Mitch McConnell holds a vote on legislation to fully legalize cannabis, as too many senators see no political upside for McConnell to schedule such a vote. Given this view, Seiberg believes that prospects are better for narrower bills that could get attached to spending packages and other measures than for broader bills that would legalize recreational use. Of the narrower bills introduced in the U.S. so far, Seiberg believes the SAFE Act on cannabis banking has the best shot before the 2020 election. Publicly traded companies in the cannabis space include Aphria (APHA), Aurora Cannabis (ACB), CV Sciences (CVSI), CannTrust Holdings (CNTTF), Canopy Growth (CGC), Cronos Group (CRON), General Cannabis (CANN), India Globalization Capital (IGC), MediPharm Labs (MLCPF) and Tilray (TLRY).
04/02/19
GHSC
04/02/19
NO CHANGE
GHSC
Neutral
Canopy estimates lowered at Seaport Global following peer reports
Seaport Global analyst Brett Hundley lowered his near-term revenue and EBITDA estimates for Canopy Growth (CGC) after recent earnings reports from HEXO Corp. (HEXO) and Cronos (CRON) highlighted broader Canadian industry inventory build and "marketplace inefficiency." He thinks it is prudent to be somewhat conservative related to store rollouts this spring along with the development of the nationwide edibles/beverages market later this year. Hundley keeps a Neutral rating on Canopy shares.

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CWCO

Consolidated Water

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PYPL

PayPal

$107.18

0.27 (0.25%)

08:36
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Spirit Airlines

$58.30

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HES

Hess Corp.

$65.79

-1.67 (-2.48%)

08:35
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AAPL

Apple

$207.10

-0.4 (-0.19%)

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LULU

Lululemon

$178.33

1.5 (0.85%)

08:34
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FRBK

Republic First Bancorp

$5.38

-0.03 (-0.55%)

08:34
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Earnings
Republic First Bancorp reports Q1 EPS 1c, two estimates 4c »

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FBHS

Fortune Brands

$49.89

0.53 (1.07%)

08:34
04/25/19
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08:34
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General news
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Televisa

$10.29

-0.25 (-2.37%)

08:33
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08:33
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08:33
Conference/Events
Televisa management to meet with Evercore ISI »

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LUV

Southwest

$52.92

0.11 (0.21%)

08:33
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PYPL

PayPal

$107.18

0.27 (0.25%)

08:30
04/25/19
04/25
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Recommendations
PayPal analyst commentary at RBC Capital »

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LUV

Southwest

$52.92

0.11 (0.21%)

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JMIA

Jumia Technologies

$37.15

1.18 (3.28%)

, PINS

Pinterest

$26.80

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Options
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$37.15

1.18 (3.28%)

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Pinterest

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ZM

Zoom Video

$63.32

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USG

USG

$43.49

(0.00%)

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SLAB

Silicon Labs

$110.04

16.41 (17.53%)

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PFE

Pfizer

$39.39

-0.02 (-0.05%)

08:29
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Conference/Events
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LUV

Southwest

$52.92

0.11 (0.21%)

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LUV

Southwest

$52.92

0.11 (0.21%)

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APD

Air Products

$199.50

2.83 (1.44%)

08:27
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MKTX

MarketAxess

$264.37

1.77 (0.67%)

08:27
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Conference/Events
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  • 02

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LTXB

LegacyTexas Financial

$38.05

-3.13 (-7.60%)

08:26
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Upgrade
LegacyTexas Financial rating change  »

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LUV

Southwest

$52.92

0.11 (0.21%)

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LUV

Southwest

$52.92

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