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TAP

Molson Coors

$52.42

0.105 (0.20%)

05:18
11/26/19
11/26
05:18
11/26/19
05:18

Molson Coors downgraded to Market Perform from Outperform at BMO Capital

BMO Capital analyst Amit Sharma downgraded Molson Coors Brewing to Market Perform from Outperform with a price target of $55, down from $62. The shares closed Monday up 12c to $42.42. Molson's "persistently low" valuation and high free cash flow yield has failed to entice investors as its "structurally compromised" sales growth has been "too high a hurdle," even for deep-value investors, Sharma tells investors in a research note. Further, management's revitalization plan to lift sales growth does not go far enough to structurally lift the company's outlook and it may delay potentially shareholder-friendly strategic actions, adds the analyst.

TAP Molson Coors
$52.42

0.105 (0.20%)

10/31/19
DBAB
10/31/19
NO CHANGE
Target $50
DBAB
Hold
Molson Coors price target lowered to $50 from $56 at Deutsche Bank
Deutsche Bank analyst Steve Powers lowered his price target for Molson Coors to $50 from $56 citing a reduced free cash flow and EBITDA outlook for fiscal 2020. He keeps a Hold rating on the shares.
11/20/19
EVER
11/20/19
NO CHANGE
Target $60
EVER
Outperform
Molson Coors may be considering options for European business, says Evercore ISI
Evercore ISI analyst Robert Ottenstein said he believes that Molson Coors may be considering strategic options for its European operations, given the company's prior assertion that its Europe business would be "structured to allow for standalone operations" as part of its "Revitalization Plan." Ottenstein also notes that Carlsberg's CEO replied on his own company's conference call, when asked about speculation that Molson Coors was considering a review of the business, that "we can only share with you that we heard the same, but obviously, we're not commenting on that." Molson Coors' European business, accounts for about 18% of sales and 15% of EBITDA, said the analyst, who estimates that a sale of the European business could be about 15%-20% accretive to EPS, based on his assumptions about a potential price and use of after-tax proceeds. Ottenstein, who sees potential issues with a sale of Europe being the split ownership of the Miller and Coors brands in these markets and reduced global scale, keeps an Outperform rating on Molson Coors shares.
11/25/19
LEHM
11/25/19
DOWNGRADE
Target $54
LEHM
Equal Weight
Molson Coors downgraded to Equal Weight from Overweight at Barclays
Barclays analyst Lauren Lieberman downgraded Molson Coors to Equal Weight from Overweight with a price target of $54, down from $59. Following "too many disappointments for too long," improved revenue trends will need to be apparent before investors are willing to re-engage with the story, Lieberman tells investors in a research note. As a result, the analyst feels a "wait and see" stance in warranted with respect to Molson Coors shares.
11/25/19
11/25/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Netflix (NFLX) downgraded to Underperform from Market Perform at Wells Fargo with analyst Steven Cahall saying he analyzed Netflix's cash estimates and has conviction in his 2019-2025 cumulative free cash flow forecast that's $18B below consensus. 2. Prudential (PRU) downgraded to Sell from Neutral at Citi with analyst Suneet Kamath saying previously, the analyst had been concerned with "when" Prudential would get back to above-peer growth and return on equity. Now, however, he's concerned "if" the company can get there, particularly if interest rates remain low. 3. CymaBay (CBAY) downgraded to In Line from Outperform at Evercore ISI and to Hold from Buy at Stifel. 4. ManTech (MANT) downgraded to Hold from Buy at SunTrust with analyst Tobery Sommer saying after the company's "above-average" organic growth of 10% this year, 2020 will be more "difficult," also noting that he sees his expected 10bp margin expansion next year as "adequately" priced in to the stock at current levels. 5. Molson Coors (TAP) downgraded to Equal Weight from Overweight at Barclays with analyst Lauren Lieberman saying after "too many disappointments for too long," improved revenue trends will need to be apparent before investors are willing to re-engage with the story. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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