Market Overview

UPDATE: Stifel Nicolaus Increases PT to $36 on Constellation Brands on Revenue Outlook

Share:
Related STZ
Jim Cramer Weighs In On Universal Display, Kinder Morgan And More
Mid-Afternoon Market Update: Dow Rises Over 100 Points; NeoPhotonics Shares Slide
Tracking Stephen Mandel's Lone Pine Capital Portfolio - Q3 2017 Update (Seeking Alpha)

Stifel Nicolaus reiterated its Buy rating on Constellation Brands (NYSE: STZ) and raised its price target from $32 to $36.

Stifel Nicolaus said, "Yesterday, Beer Marketer's Insights, a trade publication, reported that Constellation's Crown business is taking a 3% price hike in Florida, effective September 30th. This is the first in the state in several years, and based on related conversations, we expect similar increases in other states. We believe inflation-type increases are logical now that Crown's depletions are more than a year into growing again (mid single-digits). We take our projected Crown revenue up 5%, anticipating 3% price/mix growth next year and 3% volume growth versus 1% previously. This adds $0.04 to our FY14E EPS (now $2.72, was $2.68, consensus $2.58)."

Constellation Brands closed at $30.68 on Tuesday.

Latest Ratings for STZ

DateFirmActionFromTo
Oct 2017CitigroupMaintainsNeutral
Oct 2017Morgan StanleyMaintainsOverweight
Oct 2017Stifel NicolausMaintainsBuy

View More Analyst Ratings for STZ
View the Latest Analyst Ratings

Posted-In: Stifel NicolausAnalyst Color Price Target Intraday Update Analyst Ratings

 

Related Articles (STZ)

View Comments and Join the Discussion!

Partner Center