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UPDATE: J.P. Morgan Reiterates Neutral Rating, Raises PT on Constellation Brands

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In a report published Wednesday, J.P. Morgan & Co. reiterated its Neutral rating on Constellation Brands (NYSE: STZ), and raised its price target from $30.00 to $42.00.

J.P. Morgan noted, “In the wine business it appears trends are improving, and the company has made the right moves, both structurally (aligning its distribution), and internally (shifting its focus to organic growth and margin accretion). We expect better quality earnings in FY13 with easier comps. In addition, the company should see a strong acceleration in earnings in FY14 with the addition of the remaining 50% of ebit from the Crown JV. After the deal, it becomes primarily a deleveraging story.”

Constellation Brands closed on Tuesday at $35.78.

Latest Ratings for STZ

Sep 2015NomuraInitiates Coverage onNeutral
Sep 2015CLSAUpgradesOutperform
Aug 2015Stifel NicolausMaintainsBuy

View More Analyst Ratings for STZ
View the Latest Analyst Ratings

Posted-In: J.P. Morgan & Co.Analyst Color Price Target Analyst Ratings


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