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Pivotal Research Group initiated a Buy rating on Constellation Brands, Inc. (NYSE: STZ) with $110 price target in a report issued Monday.
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Analyst Timothy S. Ramey noted the “powerful momentum and growth we see in STZ’s operating sectors – imported beer; premium varietal wines; and spirits make this a best-ever operating environment for Constellation Brands.”
“We envision long-tailed, investable trends, likely to drive growth at above-average rates” and Ramey felt that the company with outperform “for at lease three-to-five years to come” driven my Millennial generation consumption.
Ramey estimated “$1.14 for Q3 2015 (consensus is $1.13 expected about Jan. 6th); $4.22 for FY15 (Feb.), consensus is $4.24; and $4.70 for FY16 (consensus is $4.73).”
The report concluded that “Constellation trades at just 17.9x our estimate of FY16 EPS (February 2016) and 14.5x current EV/EBITDA. Our price target of $110 is based on 22.9x FY16 EPS and 14.8 2016 EV/EBITDA.”
Constellation Brands, Inc. recently traded at $84.84, up 0.94 percent.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.