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Fly News Breaks for August 1, 2019
TAP
Aug 1, 2019 | 07:57 EDT
BMO Capital analyst Amit Sharma lowered his price target on Molson Coors to $65 after the company posted "another quarter of weaker performance" with a "less sanguine" outlook for the back half of 2019. The analyst warns that Molson Coor's increased MG&A costs and "minimal" inventory benefit will weigh on its ability to achieve 2019 free cash flow guidance.
News For TAP From the Last 2 Days
TAP
Sep 20, 2019 | 07:39 EDT
As previously reported, MKM Partners analyst Bill Kirk started HEXO Corp. (HEXO) with a Buy rating and C$12 price target, citing his belief that its approach to be the working component of expert partners' products has the best chance of creating a defensible "Powered by HEXO" brand and that its less commoditized approach should grant early access to "exciting categories," such as cannabis edibles via its partnership with Molson Coors (TAP). While Kirk thinks most estimates are likely too high in the sector, he doesn't think consensus is crediting HEXO for its goal of $C400M in 2020 sales, he added.