Constellation Brands: now a best idea for Wedbush
(CercleFinance.com) - Wedbush today adds Constellation Brands to its "Best Ideas List", confirming its "Outperform" rating on the alcoholic beverage group's stock and raising its target price for it from $275 to $300.
"We see multiple upcoming catalysts on the horizon for STZ which adds to our overall conviction on the company's ability to continue to outperform and drive strong topline and earnings growth, while unlocking multiple expansion", the broker judges.
The closest of these catalysts will be the Q3 results to be released later this week, with Wedbush expecting a strong performance in beers that would be bolstered by an easier comparison base in H2.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
"We see multiple upcoming catalysts on the horizon for STZ which adds to our overall conviction on the company's ability to continue to outperform and drive strong topline and earnings growth, while unlocking multiple expansion", the broker judges.
The closest of these catalysts will be the Q3 results to be released later this week, with Wedbush expecting a strong performance in beers that would be bolstered by an easier comparison base in H2.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.