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Fly News Breaks for May 3, 2019
BREW, BUD
May 3, 2019 | 08:33 EDT
Maxim analyst Anthony Vendetti assumed Craft Brew Alliance (BREW) with a Buy rating and a price target of $21, saying he expects the company's revenue to accelerate in 2019 thanks mostly to the increased marketing for its flagship Kona brand. The analyst also cites Craft Brew's relationship with InBev (BUD) and points to its option to make a qualifying acquisition offer at $24.50 per share by August 23rd.
News For BREW;BUD From the Last 2 Days
BUD
Jul 15, 2019 | 07:30 EDT
Notable put activity was cited Friday in Nordstrom (JWN) and Anheuser Busch (BUD).
BUD
Jul 15, 2019 | 07:06 EDT
As previously reported, BofA Merrill Lynch analyst Bryan Spillane downgraded Molson Coors (TAP) two notches, to Underperform from Buy, citing the heightened potential he sees that the company will need to increase spending to stabilize core brands' market share and invest in premium and "beyond" beer segments. To support his view, Spillane notes that Molson Coors has continued to lose market share in FY19 as competitors such as AB InBev (BUD), Heineken (HEINY), Constellation (STZ) and Boston Beer (SAM) have increased marketing/brand support and that products like hard seltzers and canned wine pose further risk to domestic light beer. He lowered his price target on Molson Coors shares to $50 from $70.