Market Overview

UPDATE: Stifel Nicolaus Increases PT to $36 on Constellation Brands on Revenue Outlook

Related STZ
Apple's Tim Cook And 5 Other Notable LGBT CEOs
UPDATE: Pivotal Research Group Initiates Coverage On Constellation Brands
Corona Deal Lifts Constellation's 1Q Earnings (Fox Business)

Stifel Nicolaus reiterated its Buy rating on Constellation Brands (NYSE: STZ) and raised its price target from $32 to $36.

Stifel Nicolaus said, "Yesterday, Beer Marketer's Insights, a trade publication, reported that Constellation's Crown business is taking a 3% price hike in Florida, effective September 30th. This is the first in the state in several years, and based on related conversations, we expect similar increases in other states. We believe inflation-type increases are logical now that Crown's depletions are more than a year into growing again (mid single-digits). We take our projected Crown revenue up 5%, anticipating 3% price/mix growth next year and 3% volume growth versus 1% previously. This adds $0.04 to our FY14E EPS (now $2.72, was $2.68, consensus $2.58)."

Constellation Brands closed at $30.68 on Tuesday.

Latest Ratings for STZ

DateFirmActionFromTo
Oct 2014Pivotal ResearchInitiates Coverage onBuy
Oct 2014JP MorganMaintainsNeutral
Sep 2014Cowen & CompanyInitiates Coverage onMarket Perform

View More Analyst Ratings for STZ
View the Latest Analyst Ratings

Posted-In: Stifel NicolausAnalyst Color Price Target Intraday Update Analyst Ratings

 

Related Articles (STZ)

Around the Web, We're Loving...

Get Benzinga's Newsletters