Analysts Are Downgrading These 5 Stocks

3. Constellation Brands, Inc. (NYSE:STZ)

Number of Hedge Fund Holders: 43

Cowen analyst Vivien Azer lowered her ratings for Constellation Brands, Inc. (NYSE:STZ) from “Outperform” to “Market Perform” on Friday, January 6. The analyst expressed concerns over the downtrading in the company’s premium beer and wine category.

Azer also thinks the company’s beer margins will stay under pressure. She cut her price target for Constellation Brands, Inc. (NYSE:STZ) from $275 per share to $200 per share.

The downgrade came a day after Constellation Brands, Inc. (NYSE:STZ) revised its profit outlook for the full year. The beer and wine producer now expects earnings in the range of $11 – $11.20 per share for fiscal 2023, down from its previous forecast between $11.20 to $11.60 per share.

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