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Credit Suisse has initiated seven companies in the beverage and spirit sectors, rating the sector Neutral to Bullish. The brokerage commenced with an Outperform rating on four stocks while it settled with a Neutral rating on the other three.
The comments indicate continued weakness in carbonated beverages while companies focused more on non-carbonated beverages seem likely to gain. The third quarter is just about 14 days away from ending, and the comments assume significance on the expectations for the third quarter.
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Credit Suisse has given its price target rating for the following stocks:
Initiated At Outperform
- Brown-Forman Corporation (NYSE: BF-B), $52 price target.
- Dr Pepper Snapple Group Inc. (NYSE: DPS), $108 price objective.
- Monster Beverage Corporation (NASDAQ: MNST), $187 price target.
- PepsiCo, Inc. (NYSE: PEP), $121 price objective.
Initiated At Neutral
- The Coca-Cola Co (NYSE: KO), $44 price target.
- Constellation Brands, Inc. (NYSE: STZ), $178 price target.
- National Beverage Corp. (NASDAQ: FIZZ), $55 price objective.
At Time Of Writing ...
- Brown-Forman was up 0.33 percent at $45.77.
- Coca-Cola was down 0.61 percent at $42.10.
- Constellation was down 0.94 percent at $164.65.
- Dr Pepper Snapple was up 0.33 percent at $90.52.
- Monster was down 0.13 percent at $146.16.
- National Beverage Corp was down 0.25 percent on the day at $52.64.
- PepsiCo was down 0.25 percent at $105.22.
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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.