Jefferies Maintains Hold on Molson Coors - Molson Coors Beverage (NYSE:TAP)

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Jefferies is out with its report today on Molson Coors (NYSE: TAP), maintaining Hold.In a note to clients, Jefferies writes, "We're on the sidelines given our expectation for 1) declining volumes in 2011 (very tough comparisons in Canada and consumer/industry headwinds in the U.S.), 2) elevated commodity costs into 2012 and 3) significantly reduced cost control benefits over the next two years."Jefferies maintains a $50 PT on TAP.Shares of TAP closed Wednesday at $45.44.

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