TD Cowen Trims Constellation Brands (STZ) Price Target on Higher Marketing Spend

Constellation Brands, Inc. (NYSE:STZ) is included among the 10 Best Value Dividend Stocks to Buy Now According to Warren Buffett.

TD Cowen Trims Constellation Brands (STZ) Price Target on Higher Marketing Spend

On May 29, TD Cowen reduced its price recommendation on Constellation Brands, Inc. (NYSE:STZ) to $174 from $190. It reiterated a Buy rating on the shares. Analyst Robert Moskow updated his forecasts ahead of the company’s Q1 earnings release and lowered its EPS estimate to reflect the timing of marketing investments tied to the upcoming World Cup. Even with that adjustment, TD Cowen left its full-year EPS estimate unchanged at $11.91.

On May 28, BofA also trimmed its price goal on Constellation Brands, lowering it to $152 from $154. It kept an Underperform rating on the stock. Analyst Peter Galbo cut his Q1 EPS forecast to $3.10 from $3.20, pointing to softer beer sales and weaker profitability in the wine and spirits business.

Constellation Brands, Inc. (NYSE:STZ) is a producer and marketer of beer, wine, and spirits, with operations spanning the United States, Mexico, New Zealand, and Italy.

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