UPDATE: Stifel Nicolaus Reiterates Buy Rating, Raises PT on Constellation Brands

In a report published earlier today, Stifel Nicolaus reiterated its Buy rating on Constellation Brands

and raised its price target from $28.00 to $30.00. Stifel Nicolaus went on to say “We update our model to reflect a pro forma forecast for STZ after the agreement to purchase the 50% of the Crown Imports venture it does not currently own. The transaction is expected to close in Q1 calendar 2013, and we start the consolidation in Constellation's F2014. Our combined revenue forecast for F2014 is $5.35bn and our pro forma EPS forecast for F2014 is $2.68.” Constellation Brands, Inc. closed on Friday at $27.06.