Market Overview

UPDATE: Goldman Sachs Downgrades Constellation Brands to Neutral on Increased Deal Risk

Related STZ
Top 4 NYSE Stocks In The Beverages-Wineries & Distillers Industry With The Highest Revenue
Looking for a Growth Stock? Why It is Time to Focus on Constellation Brands (STZ) - Tale of the Tape
Bulls Charge the Street as Traders Cheer FOMC Minutes (Fox Business)

Goldman Sachs downgraded Constellation Brands (NYSE: STZ) from Conviction Buy to Neutral and lowered the price target from $40.00 to $36.00.

Goldman Sachs commented, "We remove STZ from the America's Buy List and downgrade to Neutral. Prompting this move is today's announcement that the DOJ has filed a civil antitrust lawsuit in an attempt to block ABI's proposed acquisition of Grupo Modelo. STZ's plan to acquire Crown Imports was dependent on the ABIModelo acquisition closing. We believe it is prudent to now place a lower probability of the deal closing given increased uncertainty. We lower our 12-month, SOTP price target $4, to $36, on this lower probability."

Constellation Brands closed at $32.36 on Thursday.

Posted-In: Goldman SachsAnalyst Color Downgrades Analyst Ratings

 

Most Popular

Related Articles (STZ)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free