In a report published Friday, Bank of America analyst Bryan D. Spillane reiterated a Buy rating and $97.00 price target on Constellation Brands STZ.
In the report, Bank of America noted, “STZ shares have underperformed the market since FY1Q15 results driven in part by concerns about slowing sales momentum in beer (due in part to difficult comparisons), potential capital spending increases, anxiety over beer margin targets (phasing and ability to exceed) and a rising valuation. These concerns could be stoked between now and year end as management provides more clarity.”
Constellation Brands closed on Thursday at $86.41.
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